Western Australian mining operator Aspire has received a 30-year mining licence for its 90 per cent-owned Nuurstei coking coal project in Mongolia.
The company’s main focus for the moment remains at its 100 per cent-owned Ovoot coking coal project to the west of Nuurstei.
The licence has been granted for the transfer of 10 million Aspire shares to local operator Xanadu Mines as part of a sale and purchase agreement in 2014.
Once the deal has been finalised, Aspire will perform a raw coal bulk test at the new facility in preparation for intended delivery for Tangshan, China.
Aspire managing director David Paull said: “Securing a mining license is an important milestone and reflects the Mongolian Government’s continued support for the company and the coal industry in general.
“This vindicates our original decision in June 2014 to look to add a new coking coal project which is not rail dependent and the decision in July 2017 to exercise our option to move to a 90 per cent interest. The company is now working very hard on commercialising this high-quality coking coal project as soon as possible.”