The Mongolian Government has confirmed that a multi-departmental working group, compromising representatives from the Ministries of Roads and Transportation, Environment, Finance and Investment Agency, has been created to negotiate a rail concession with Aspire Mining’s Northern Railways subsidiary.
It has invited Northern Railways to begin negotiations in accordance with the terms and conditions for the Rail Concession Agreement along with a request for draft agreements to consider.
A consortium agreement with China Railways 20 Bureau Group Corp. and China Railways First Survey & Design Institute Group Co. Ltd, has been made in order for Northern Rail to support the granting of the Concession Agreement. This has provided Northern Railways with exclusive rights to use patented technology required to design and construct the Erdenet-to-Ovoot railway.
Aspire’s Managing Director, David Paul said: “it was an exciting period for the company, as it can now formally commence negotiations for the Erdenet-to-Ovoot rail concession. It is also of great benefit for a junior ASX listed Company, such as Aspire, to have the full technical and engineering weight of China Railways 20 Bureau Group Corp. behind it to support the negotiations for a rail concession with the Mongolian Government.”
Edited by Harleigh Hobbs.
Read the article online at: https://www.worldcoal.com/handling/15052015/negotiations-commence-for-rail-concessions-2281/