PERTH (miningweekly.com) – Unlisted takeover target Auminco Mines has launched its environmental baseline studies for the Berkh Uul coal project, in Mongolia, ASX-listed Viking Mines reported on Thursday.
The environmental study was a required component of the application process for a mining licence.
Viking Ashanti said the results from the study would also provide baseline environmental and social data for the planned feasibility study over the Berkh Uul project.
The baseline environmental study would be completed within two months.
Auminco was currently the takeover target of Viking Ashanti, which was offering 61.2 of its own shares, and 20.4 of its options, for every 100 Auminco shares held.
Viking Ashanti has so far secured a 97% shareholding in the unlisted coal developer.
The Berkh Uul project currently contains a resource of about 38.3-million tonnes, of which 21.4-million tonnes is classified as indicated and 16.9-million tonnes as inferred.