The EIA is one of the key documents to be delivered to the Government of Bangladesh to secure the final approval to begin mining the Phulbari coal deposit.

The EIA sets out the social and environmental impacts of the proposed open pit mine and how these will be managed in accordance with the highest national and international standards.

“The EIA represents the culmination of some of the most extensive research carried out on any project in Bangladesh,” said Gary Lye, Asia Energy’s chief executive officer, Bangladesh. “It is thorough and comprehensive, and it underlines our commitment to ensuring we look after both the people in the affected area and their environment.”

The EIA details the open pit mining process and describes plans for people to be progressively resettled and compensated over the 30-year life of the mine. It details how water supplies will be maintained for both housing and farming, bio-diversity protected, and how the mined land will be progressively rehabilitated. Asia Energy plans to establish a development fund to promote jobs and assistance programs.

The five-volume EIA, totalling 2490 pages, is the product of 18-months of field research by some 300 international and local experts working for more than 20 companies and institutions.

Exploratory drilling at Phulbari has established a resource of 572 million tonnes of high quality coal suitable for both steel and power generation industries. Environmental Site Clearance for the Project, which was granted in March 2005 after submission of an Initial Environmental Examination, completed the first phase.

“The EIA is another important milestone towards the successful development of the Phulbari Coal Project,” said David Lenigas, joint managing director of Asia Energy.

“We will be following up in September with the submission to the Government of a Scheme of Development detailing the mining aspects of the project. The details within the EIA and the Scheme of Development will together provide the necessary core information required for the production of the Banking Information Memorandum. This document will be used by the company and its bankers Barclays Capital to finance this exciting project.”