Australia-based, Mongolia-focused coking coal explorer Aspire Mining Limited has announced that it has established a maiden 178 million mt JORC compliant open pit coal reserve in its wholly-owned Ovoot Coking Coal Project (Ovoot) located in northern Mongolia.
It is estimated that the coal reserve would produce 147 million mt of high quality marketable coking coal, based on average wash yields of 82.5 percent. With 178 million mt of coking coal reserves, the Ovoot Coking Coal Project is already the third largest known coking coal reserve in Mongolia.
Aspire's managing director David Paull said, "Aspire will work through 2012 to increase Ovoot's coal reserves and coal resources; however, we are also strongly focusing on the project's infrastructure requirements, including the establishment of a multi-user rail line facility. Part of that process will be gaining necessary government and financial support to progress Aspire's subsidiary, Northern Railways LLC and the Erdenet to Moron rail extension."