Aspire finds buyer for Ovoot product
PERTH (miningweekly.com) – Coal hopeful Aspire Mining saw a near 13% increase in its share price on Wednesday after the company signed a memorandum of understanding (MoU) for future coal supply.
The ASX-listed junior told shareholders that it had signed a nonbinding MoU with Sainshand Industrial Complex, which was developing the largest industrial park in Mongolia, to potentially provide coking coal from the Ovoot project.
Aspire noted that this was an important step for the Ovoot project, and recognised the project as a key supplier to the industrial park.
In order to supply the Sainshand Park with Ovoot coal, the Erdenet to Ovoot railway connecting to the Trans-Mongolian railway would need to be completed.
Aspire said that its Mongolian rail infrastructure subsidiary had applied to the Mongolian government for a rail concession over this area, adding that government approval would be required before the rail project could proceed.
The $144-million Ovoot project would have an initial production of five-million tonnes a year, with first production targeted for 2017, to coincide with the commissioning of the railway.
Aspire shares were trading at a high of A$0.037 a share on Wednesday.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















