Aspire Mining approach near-term production opportunity
Aspire Mining Ltd has now finalised a balance sheet restructure, while also moving to a 90% interest in the Nuurstei Coking Coal Project located in Mongolia.
Aspire Mining approach near-term production opportunity. Aspire Mining Ltd has now finalised a balance sheet restructure, while also moving to a 90% interest in the Nuurstei Coking Coal Project located in Mongolia. Nuurstei provides Aspire with the opportunity to pursue a near-term production opportunity to take advantage of improving conditions in the coking coal market. A conceptual mining study shows a competitive delivered cost for hard coking coal into northern Chinese markets based on trucking. Nuurstei is seen as a starter project for Aspire while it progresses the 100% owned Ovoot Coking Coal Project, Mongolia’s second largest coking coal project. During 2016, a maiden JORC resource at Nuurstei was estimated measuring 12.85 million tonnes. The mining license application process is advanced and additional drilling and sampling is required to convert Inferred Resources into Indicated resources and build mine life. The company is currently evaluating the opportunity to initially commence mining raw coal from Nuurstei for toll washing before delivery to customers in Northern China.
Views: 1276
Tweet