Aspire Mining well-placed to meet increased Chinese demand with Ovoot Coking Coal Project in Mongolia
Aspire Mining Ltd (ASX:AKM) (FRA:WKU) is progressing its wholly-owned Ovoot Coking Coal Project (OCCP) in Mongolia, with the front-end engineering and design (FEED) study contract awarded and recent lab tests confirming the product is high-quality premium fat coking coal. The Ovoot Coking Coal Project contains a JORC 2012-compliant total coal reserve of 255 million tonnes of high quality (fat) coking coal, which can be used to blend with other coking coals to produce coke, an essential component of producing steel using the blast furnace production route. This type of coal is in increasing demand in China, Mongolia''s southern neighbour, particularly as China''s relationship with Australia is strained which impacts the amount of coal imported from Australia. The companys Ovoot Early Development Plan (OEDP) and pre-feasibility study is focused on a truck and rail operation to deliver up to 4 million tonnes per annum to end markets in China and Russia - and with no signs of China reversing its policy on Australian coal imports Aspire looks well-placed to cater to Chinese demand.
Aspire Mining well-placed to meet increased Chinese demand with Ovoot Coking Coal Project in Mongolia
Aspire Mining Ltd (ASX:AKM) (FRA:WKU) is progressing its wholly-owned Ovoot Coking Coal Project (OCCP) in Mongolia, with the front-end engineering and design (FEED) study contract awarded and recent lab tests confirming the product is high-quality premium fat coking coal. The Ovoot Coking Coal Project contains a JORC 2012-compliant total coal reserve of 255 million tonnes of high quality (fat) coking coal, which can be used to blend with other coking coals to produce coke, an essential component of producing steel using the blast furnace production route. This type of coal is in increasing demand in China, Mongolia''s southern neighbour, particularly as China''s relationship with Australia is strained which impacts the amount of coal imported from Australia. The companys Ovoot Early Development Plan (OEDP) and pre-feasibility study is focused on a truck and rail operation to deliver up to 4 million tonnes per annum to end markets in China and Russia - and with no signs of China reversing its policy on Australian coal imports Aspire looks well-placed to cater to Chinese demand.