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Aspire Mining granted Nuurstei mining license

Published by
World Coal,


Highlights

  • Mining License MV-020941 has been granted by the Mineral Resources Authority of Mongolia for 860.91 ha of Aspire’s 90% owned Nuurstei Coking Coal project.
  • The grant of the license will result in Aspire issuing 10 million shares to ASX listed Xanadu Mines Ltd (ASX: XAM) as required under the Sale and Purchase Agreement announced on 13 June 2014.

Aspire Mining Ltd has received Mining License MV-020941 covering 860.91 hectares of the Nuurstei Coking Coal project from the Mineral Resources Authority of Mongolia. This is an important milestone for the Nuurstei Coking Coal project. A conceptual mine plan has been prepared based on the JORC Compliant Resource, which indicates a potentially attractive mining proposition to truck coal 420 km to the nearest rail head at Erdenet for export to North Eastern metallurgical coal customers. Nuurstei metallurgical coal has been successfully tested in Chinese coke plants as a high quality low sulfur hard metallurgical coal. The company is currently preparing for a bulk trial of indicative Nuurstei raw coal to test logistics paths and costs targeting delivery into the Tangshan metallurgical coal market. This coal is planned to be washed at a toll facility in northern China before delivery into Tangshan. The trial will also provide valuable data for future wash plant design; be important in completing a feasibility study for the Nuurstei project; and provide commercial scale samples for targeted end customers.

Aspire Managing Director David Paull said:

“Securing a Mining License is an important milestone and reflects the Mongolian Government’s continued support for the company and the coal industry in general. This vindicates our original decision in June 2014 to look to add a new metallurgical coal project which is not rail dependent and the decision in July 2017 to exercise our option to move to a 90% interest. The company is now working very hard on commercialising this high quality metallurgical coal project as soon as possible.”

Read the article online at: https://www.worldcoal.com/mining/09102017/aspire-mining-granted-nuurstei-mining-license/


 

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