Aspire Mining Ltd
Aspire Mining Ltd (ASX:AKM) owns 100% of the Ovoot Coking Coal Project in northern Mongolia, which ranks as the second largest coking coal Project by Reserves in the Country. Aspire is focussed on the development of the Ovoot Project targeting a large scale open pit mining operation, to commence in 2016, producing up to 12 Mtpa high quality coking coal at full production.
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Aspire Mining enters new MoU to progress railway for coal project
Aspire Mining Ltd (ASX:AKM) has entered into a new memorandum of understanding (MoU) with China Gezhouba Group International Engineering Co Ltd (CGGC).
The Erdenet to Ovoot Railway extends 549 kilometres between the town of Erdenet and Aspire's Ovoot Coking Coal Project, both in Mongolia.
Having delivered the draft Erdenet to Ovoot rail feasibility study in March 2018, CGGC and Northern Railways have agreed to work quickly to finalise the feasibility study within May 2018.
The rail feasibility is a key document for targeting project financing.
CGGC will look to fund the remaining Erdenet to Ovoot Rail concession agreement pre-development work as per the previous October 2017 MoU.
However, this will be subject to receiving a guarantee that the connecting rail line will have sufficient capacity to carry the additional freight once connected.
Other Aspire Mining Ltd news
- Aspire Mining makes key appointment on coking coal production path
2018-01-19 - Aspire Mining enters agreement to advance railway
2017-06-07 - Aspire Mining receives interest to fund modular coal plant
2017-05-11 - Aspire Mining study results support open cut coal mine
2017-04-20 - Aspire Mining Ltd to soar with new China to Russia rail corridor
2016-06-29
