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Aspire Mining (ASX:AKM) on a fast-paced growth track with high quality Fat Coking Coal

Summary

  • Aspire Mining intends to undertake open pit mining at OCCP for coking coal which would be finally delivered to customers in China and Russia.
  • The recent test results unveiled by SGS’s Tianjin Laboratory validates the attractiveness of Ovoot Fat Coking Coal.
  • Aspire Mining awarded Sedgman Pty Limited the contract for preparing a FEED study on CHPP infrastructure

ASX-listed Aspire Mining Limited (ASX: AKM) is going from strength to strength, thanks to the superior quality fat coking coal that enjoys significant demand in Chinese and Russian steel industry.

The Company intends to undertake open pit mining at Ovoot Coking Coal Project (OCCP) for coking coal, which would be trucked to an Erdenet-based terminal facility owned by the Company. It will then be delivered to customers in China and Russia through the existing Mongolian rail network.

In line with the current focus, the test results unveiled by SGS’s Tianjin Laboratory validates the attractiveness of Ovoot Fat Coking Coal, highlighting its prospective application in the upbeat steel markets of China and Russia, with which Mongolia shares its borders. In addition to the significant results, the Company also engaged in various activities, continuing to advance permitting, engineering, and financing work on road, rail terminal, equipment, and other infrastructure.

ALSO READ: How Aspire Mining (ASX:AKM) is Going from Strength to Strength with Ovoot Project Developments

An Overview of high-quality coke potential

Based on a 60kg indicative Ovoot sample, the recent laboratory results similar to the previous results have indicated that Ovoot is a high-quality Fat Coking Coal, having excellent fluidity, caking and plastic properties across a broad spectrum of temperature.

ALSO READ: Aspire Mining soars 22% on confirmation of high-quality fat coking coal at Ovoot

The Company’s coal processing adviser and coal technologist, Mr Ross Brims, who has significant coal processing experience in Australia, China and Mongolia and pre-qualification experience of coking coals into the Chinese market, has highlighted the robust potential for Ovoot.

ALSO READ: Aspire Mining (ASX: AKM) keen to unlock Mongolian Mining potential

On review of the data unveiled by the SGS Tianjin in conjugation with the current and historical data, Mr Brims expects Ovoot to achieve the highest category of fat coking coals classification available to the Chinese steel industry.  

Source: Copyright © 2021 Kalkine Media Pty Ltd, Data Source: AKM ASX update, dated 4 June 2021

Aspire Advancing well for CHPP study

Aspire Mining awarded the contract for preparing a FEED (Front-End Engineering and Design) study on CHPP infrastructure to Sedgman Pty Limited, a mineral processing company owned by the CIMIC Group. The development would support the operations to kick off at the OCC.

READ MORE: Aspire Mining (ASX: AKM) Awards Contract for CHPP Study to Sedgman

A globally leading designer, constructer, and operator of minerals processing facilities, Sedgman plans to draw from its Mongolian-specific experience and engage local subcontractors from Mongolia to deliver the FEED study due to country requirements.

A phased approach will be undertaken for the FEED Study. The study will take about five months, with an estimated total cost of A$600,000.

  • Stage 1- Trade-off analyses for pinpointing the most suitable concepts and technologies.
  • Stage 2- Concentrate on the agreed path for producing precise capital and operating costs estimates, along with designs that would allow tendering for construction.

ALSO READ: Aspire Mining (ASX: AKM) advancing well with Sustainable Focus

Source: Copyright © 2021 Kalkine Media Pty Ltd, Data Source: AKM ASX update, dated 31 May 2021

AKM shares traded at A$0.073 on 16 July 2021.

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