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Aspire is undertaking a transformational funding transaction allowing the company to pursue near-term coking coal production from Nuurstei in Mongolia.
Whilst Nuurstei can commence as a road based production operation, access to the proposed Erdenet to Ovoot Railway will reduce transport costs and unlock Aspire’s wholly-owned Ovoot Coking Coal Project.
Erdenet to Ovoot is 547 kilometres of rail that forms part of the Northern Rail Economic Corridor connecting China and Russia through Mongolia as part of China’s One Belt One Road Policy.
Aspire recently entered into a binding MOU to advance the rail project.
This article first appeared on www.proactiveinvestors.com.au
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