The Ekhgoviin Chuluu Joint Venture (ECJV) has increased its interest in the Nuurstei metallurgical coal project in Mongolia to 90%. The ECJV is 50% owned by Aspire Mining and 50% owned by the Noble Group.
The joint venture will pay US$201 500 to a Mongolian vendor, whose interest in the project will drop to 10%. A further US$200 000 will be payable on receipt of a mining licence for the project.
Nurstei is about 10 km southwest of the city of Moron, the capital of the Khuvsgul Provice in northern Mongolia. In March, Aspire Mining announced the coal geology report for the project, highlighting an exploration target of between 15 million t and 25 million t.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/exploration-and-development/13052015/ekjv-increases-stake-in-nuurstei-coal-project-2264/