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Aspire Mining update a world-class coking coal project

Coal News - Published on Fri, 30 Nov 2018

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Proactive Investors reported that Aspire Mining Ltd updated shareholders at its annual general meeting (AGM) about progressing its 100% owned Ovoot Coking Coal Project in Mongolia. Ovoot, a potential future open pit and underground mining project hosts JORC-compliant reserves of 255 million tonnes of premium coking coal. A pre-feasibility study (PFS) has been completed and Aspire is now fast-tracking studies for a trucking based solution via the Ovoot Early Development Plan (OEDP). The OEDP, due in the first half of next year, means production from the project can be unlocked earlier due to the project no longer being entirely tied to project rail infrastructure.

Ovoot’s PFS confirms the potential to deliver up to 10 million tonnes per annum of washed high quality “fat” coking coal over a 20+ year mine life (pending a rail solution). The OEDP now being progressed will deliver washed coking coal via a trucking solution to the existing railhead at Erdenet.

The existing rail infrastructure can deliver 3 to 4 million tonnes per annum. The OEDP is anticipated to deliver strong early cash flow and support medium-term delivery of rail solution to unlock full 10 million tonnes per annum production profile.

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Posted By : Nanda Koijam on Fri, 30 Nov 2018
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