Railway extension from Erdenet to Ovoot coal mine www.news.mn
Aspire Mining Ltd has received an 18-month extension until 18 September 2021 to prepare the legal and other necessary actions required prior to the construction of the Erdenet to Ovoot railway. This railway is considered critical infrastructure for the full-scale development of the Ovoot Coking Coal Project in Mongolia.
Aspire’s focus remains the Ovoot Early Development Project by developing a special-purpose haul road to deliver up to 4 million tonnes per annum from the Ovoot Coking Coal Project to the existing rail head at Erdenet.
In August 2015, Aspire’s 80%-owned subsidiary Northern Railways LLC was awarded a 30-year concession to build, operate and transfer to the Mongolian Government the Erdenet to Ovoot Railway.
Northern Railways LLC along with its nominated EPC partners, China Gezhouba Group International Company Limited and China Railways 20 Bureau Group Corporation, completed a definitive feasibility study in March 2018 and are in discussions with the Mongolian Government regarding the preferred rail alignment.
While these discussions continue, the time frame to clear conditions precedent prior to the construction commencement of the railway has now been extended 18 months through to 18 September 2021.
Proactive last caught up with Aspire in November 2019 following a well-supported capital raising.
Published Date:2020-03-27