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Aspire Mining completes study of Mongolian Rail Line

Coal News - Published on Wed, 13 Jun 2018

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Aspire Mining Limited announced that its rail subsidiary, Northern Railways, has completed its review of the Erdenet to Ovoot Rail Feasibility Study. Aspire is an exploration and development company focused on discovering and developing world class premium coking (metallurgical) coal deposits in Mongolia.

The Erdenet to Ovoot Railway will be a transformational project for Mongolia and the Khuvsgul and Bulgan airmags with a USD 1.25 billion direct investment. Apart from the positive impacts on the local businesses that can benefit from access to a fast, low cost freight service, there is a basis for a long term sustainable new transport service business. A condition of the Erdenet to Ovoot Rail Concession Agreement is that at least 30 percent of all works must be sub-contracted to Mongolian businesses.

Aspire’s executive chairman, David Paull said that “The delivery of this Feasibility Study is an important step in the development of the Erdenet to Ovoot Railway Project. The anticipated access tariff will allow for a competitive cost of transport for delivery of Aspire’s washed coking coal products into export markets.”

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Posted By : Nanda Koijam on Wed, 13 Jun 2018
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