Skip to main content

Nuurstei joint venture signs offtake agreement with Noble Group

Published by
World Coal,


Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Ltd has announced that the Ekhgoviin Chuluu Joint Venture (ECJV), tenement holder of the Nuurstei metallurgical coal project, has executed an offtake agreement with joint venture partner, Noble Group.

The ECJV owns 90% of the Nuurstei project. The ECJV is 50% owned by Aspire and 50% by Noble Group with Aspire having the right to 30 June 2017 to acquire the Noble Group interest for US$1million and a future royalty.

Noble is currently a large exporter of Mongolian coals into Chinese markets facilitating transport through to end customers.

The offtake agreement covers the first six months of anticipated production in 2018 from the Nuurstei project and notes a specification and penalty regime. The point-of-sale will be on the Chinese side of the border at Erlian. Pricing is to be agreed closer to first delivery.

A 400 kg bulk sample of raw coal is currently being transported to toll washing facilities in China to produce washed hard coking coal marketing samples.

Noble Group has previously noted that Nuurstei project coal will attract significant demand and that over time, the coal will have a pricing advantage over Chinese domestic competitors on a delivered-to-end-user basis.

Aspire’s Managing Director, David Paull, said: “the offtake agreement with Noble Group is an important step in the continuing commercialisation of the Nuurstei coking coal project”.

Read the article online at: https://www.worldcoal.com/exploration-and-development/03052017/nuurstei-joint-venture-signs-offtake-agreement-with-noble-group/

You might also like

OSIsoft webinar

WEBINAR: The hidden value of digital transformation in coal mining

In this webinar, OSIsoft will highlight some aspects of a successful digital transformation journey and discuss the top priorities that mining executives are looking for. They will also see how mining companies around the world benefit from real-time operational data to improve their safety results & their asset reliability and to optimise their operations. Register for free today »

 

Improving jaw crusher safety

According to the Health and Safety Executive’s guidance for the safe operation and use of mobile jaw crushers, equipment operators may be subject to multiple risks.

 
 

Embed article link: (copy the HTML code below):