Aspire Mining has signed a non-bidding memorandum of understanding (MoU) to supply future coal produced from the Ovoot coking coal project in Mongolia to the Sainshand Industrial Complex.
The non-binding MoU forms a part of Sainshand Industrial Complex SOE intent to sign future purchase agreements for Ovoot project coking coal and establishes a basis of information sharing prior to negotiation, Aspire said.
A Mongolian Government entity, the Sainshand Industrial Complex SOE was established to oversee the development of the Sainshand Industrial Park which is the largest industrial development project in Mongolia.
Sainshand Park is located along the existing Trans-Mongolian Railway with rail and road access to northeast China.
The Erdenet - Ovoot project railway (Northern Rail Line) connecting to the Trans-Mongolian Railway will need to be completed to supply Ovoot Project coking coal to the Sainshand Park.
Aspire's Mongolian rail infrastructure subsidiary Northern Railways has applied to the Mongolian Government for a rail concession over the Northern Rail Line.