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Aspire to develop low ash coking coal project in Mongolia

Singapore — Aspire Mining Wednesday announced plans to develop a new low ash coking coal project in Mongolia.

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The Ovoot Early Development Plan involves mining low ash and high yield coal from the Ovoot orebody and construction of a private temporary haul road to be completed in 12-15 months from commencement, the company said in a filing to the Australian Securities Exchange.

Output is initially planned at 3 million-4 million mt/year due to the limitations of Mongolia's rail capacity, with plans for an expansion of transportation to support output of up to 10 million mt/year, the company said, without providing a time line.

China imported 26.27 million mt of coking coal from neighboring Mongolia in 2017, comprising 38% of its total 69.9 million mt of coking coal imports in the year. Mongolian coal is sought-after for its low ash content; China's domestic coals typically have a higher ash content.

--Weng Yile, yi-le.weng@spglobal.com

--Edited by Wendy Wells, wendy.wells@spglobal.com