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Ovoot coal to be supplied to Zavkhan Power Station

According to proactiveinvestors.com, Aspire Mining Ltd, registered with the Australian Stock Exchange, established a non-binding memorandum of understanding (MoU) to sell up to 250,000 tons of oxidized (non-coking coal) coal per year to Zavkhan Power Station. Notably, this provides a potential revenue stream from a product that would otherwise be considered a waste material. Small quantities of oxidized coal will be produced as part of the Ovoot Project mine plan and is not included in its probable coal reserves of 255 million tons. The MoU also covers the supply of 35 megawatts of power per year to the Ovoot Project from Zavkhan Power Station.
Located 70 kilometers south of Ovoot, the Zavkhan Power Station is currently being constructed by New Asia Group, which has a concession to build, own and operate the power station to supply northern Mongolia with power. The power station is expected to be commissioned in late 2015.
In addition to this MoU, Aspire Mining has established non-binding MoUs with four Chinese and two Russian customers for the supply of up to 6.9 million tons of coking coal per year.

Short URL: http://ubpost.mongolnews.mn/?p=10852

Posted by on Jul 27 2014. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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