Thursday, 25 Aug 2011
Mongolian focused Aspire Mining Limited announced that leading coal market consultants Wood Mackenzie confirmed coking coal from Aspire's Ovoot Project had highly attractive properties and would easily meet the global seaborne market requirements.
In a marketing report prepared by Wood Mackenzie, the international consultancy said that Ovoot coal could be described as a strongly caking, hard coking coal with superior blend carrying capacity and that hard coking coal would be an appropriate price benchmark.
Aspire wholly owns the Ovoot Coking Coal Project, located in northern Mongolia. Ovoot has a 330.7 million tonne JORC Compliant Resource with high washing yields of 80% and 8% ash content, based on recent wash analysis.
The Wood Mackenzie report stated that, based on available quality data, Ovoot coking coal was in an ideal range for mid volatile hard coking coal and fat coal classifications. The consultancy also confirmed that the Ovoot coking coal presented as a value add blend coal, able to be blended with cheaper inert coals due its very high vitrinite content and good fluidity.
Mr David Paull MD of Aspire Mining said that "The Wood Mackenzie Report confirms our view that Ovoot is a quality coking coal by any measure. Confirmation that hard coking coal prices are an appropriate benchmark for Ovoot coking coal provides us with confidence to progress a pre feasibility study into the larger scale development of the Project. Potential markets for our coal include all of the large high growth markets of China, India and Brazil as well as the established markets of Japan, South Korea, Taiwan, Russia and Europe."
Wood Mackenzie has significant experience in assessing and positioning new coking coal supply sources. Its marketing strategy reviewed supply and demand fundamentals of the seaborne coking coal market as well as markets in China. Rail capacities in Mongolia and China were considered as were rail and port capacities through Russia.
Aspire is considering development of the Ovoot project in two stages. The first is a small scale development based on a 0.5 to 1 million tonne per annum starter open pit, providing direct ship ore which will be trucked 550 kilometers to the nearest rail siding at Erdenet, while work continues on developing a rail connection from the Mine to Erdenet.
Mongolian focused Aspire Mining Limited announced that leading coal market consultants Wood Mackenzie confirmed coking coal from Aspire's Ovoot Project had highly attractive properties and would easily meet the global seaborne market requirements.
In a marketing report prepared by Wood Mackenzie, the international consultancy said that Ovoot coal could be described as a strongly caking, hard coking coal with superior blend carrying capacity and that hard coking coal would be an appropriate price benchmark.
Aspire wholly owns the Ovoot Coking Coal Project, located in northern Mongolia. Ovoot has a 330.7 million tonne JORC Compliant Resource with high washing yields of 80% and 8% ash content, based on recent wash analysis.
The Wood Mackenzie report stated that, based on available quality data, Ovoot coking coal was in an ideal range for mid volatile hard coking coal and fat coal classifications. The consultancy also confirmed that the Ovoot coking coal presented as a value add blend coal, able to be blended with cheaper inert coals due its very high vitrinite content and good fluidity.
Mr David Paull MD of Aspire Mining said that "The Wood Mackenzie Report confirms our view that Ovoot is a quality coking coal by any measure. Confirmation that hard coking coal prices are an appropriate benchmark for Ovoot coking coal provides us with confidence to progress a pre feasibility study into the larger scale development of the Project. Potential markets for our coal include all of the large high growth markets of China, India and Brazil as well as the established markets of Japan, South Korea, Taiwan, Russia and Europe."
Wood Mackenzie has significant experience in assessing and positioning new coking coal supply sources. Its marketing strategy reviewed supply and demand fundamentals of the seaborne coking coal market as well as markets in China. Rail capacities in Mongolia and China were considered as were rail and port capacities through Russia.
Aspire is considering development of the Ovoot project in two stages. The first is a small scale development based on a 0.5 to 1 million tonne per annum starter open pit, providing direct ship ore which will be trucked 550 kilometers to the nearest rail siding at Erdenet, while work continues on developing a rail connection from the Mine to Erdenet.
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