Aspire hopes to finalise rail FS
PERTH (miningweekly.com) – Coal developer Aspire Mining and its rail subsidiary Northern Railways have entered into a memorandum of understanding (MoU) with China Gezhouba Group International Engineering Company (CGGC) to advance the Erdenet to Ovoot rail project.
The parties have agreed to work quickly to finalise the feasibility study for the proposed rail project, with CGGC looking to fund the remaining pre-development work subject to receiving a guarantee that there would be sufficient capacity to carry additional freight on the rail line, and there being sufficient time to complete the remaining pre-development work and conditions precedent.
As part of the agreement, Northern Railways has committed to enter into a lump sum turnkey engineering, procurement and construction (EPC) contract for the Erdenet to Ovoot rail project by the end of November.
The EPC contract will be subject to construction funding being available, which would indicatively allow for first production to start in the spring of 2019.
Initial feasibility work on the Erdenet to Ovoot railway has estimated that the project would require a capital injection of $1.25-billion for a 20-million-tonne-a-year single-line. The feasibility study included two locomotive service centres and depots, as well as 11 bypass loops for the single-line track to be able to provide network capacity of 20-million tonnes a year.
However, the freight forecast for the Erdenet to Ovoot railway does not include additional freight volumes from Russia’s Elegest coking coal basin or any trans-Eurasian trade, with Aspire noting that the feasibility of rail links into Russia would require further feasibility studies.
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