Aspire Mining sees potential for economic open pit coking coal mine

Oyundelger 2016-10-23 06:10

Mining

Aspire Mining sees potential for economic open pit coking coal mine.

Aspire Mining sees potential for economic open pit coking coal mine. The  Largest coal tenement holder in Mongolia’s Northern provinces, Aspire Mining Company completed preliminary pit optimization work that indicates a large proportion of the current Nuurstei Coking Coal deposit could report to an economic open pit. Aspire has a 45% ownership in Nuurstei located in Mongolia through its 50/50 Ekhgoviin Chuluu Joint Venture with Noble Group, which currently has a 90% interest in Nuurstei. Nuurstei is viewed as a low capital cost starter project which could assist with the development of the much larger Ovoot Coking Coal Project which is 160 kilometers further to the west. Planning is underway to complete additional drilling to convert deposit tons from the Inferred to Indicated categories and to test deposit extensions. The process is underway to convert exploration license to a mining license. Aspire is the 100% owner of the Ovoot Coking Coal Project which is the second largest coking coal project by reserves in Mongolia. The Ovoot project development is dependent on the construction of the Erdenet to Ovoot railway which is being progressed by Aspire’s subsidiary Northern Railways. Production from the Ovoot project can coincide with the commissioning of the Erdenet to Ovoot railway.