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Aspire Mining has completed its review of the 547.7-kilometre Erdenet to Ovoot rail feasibility study.
Notably, the total construction cost in Chinese renminbi before contingencies is 11% less than the primary feasibility study estimate completed in January 2017.
Given movements in the exchange rate, the total cost in US dollars remains at US$1.25 billion.
Feasibility study work continuesWhile Aspire’s wholly owned rail subsidiary, Northern Railways LLC (NR) has completed its review of the rail study, work continues.
NR, China Gezhouba International Ltd (CGGC) and its engineers continue to address a number of matters and opportunities.
The rail feasibility study will now be provided to the Mongolian Ministry of Roads and Transportation for its review and approval.
READ: Aspire Mining welcomes growing support for rail for its coal mineThe rail feasibility study sets a minimum 8% after tax rate rail project rate of return with a minimum 12% equity after tax rate of return.
Applying a below rail or sometimes described as a capacity tariff, of US3.4 cents per tonne per kilometre to use the railway, provides the following financial outcomes.
This tariff both meets the minimum financial return hurdles and provides for a competitive transport cost for Ovoot Project and Nuurstei Project coking coal into end markets.
This article first appeared on www.proactiveinvestors.com.au
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