Singapore — Aspire Mining Wednesday announced plans to develop a new low ash coking coal project in Mongolia.
Receive daily email alerts, subscriber notes & personalize your experience.Register Now
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, email@example.com
--Edited by Wendy Wells, firstname.lastname@example.org