Aspire Mining is a step closer towards developing its Ovoot Coking Coal Project in Mongolia after Chinese President Mr Xi Jinping official visit to Ulaanbaatar last week upgraded ties between the two countries to a comprehensive strategic partnership.
For Ovoot, the agreements reached between the two countries will provide:
1. More efficient transport across border points on the Mongolian-Chinese border
2. Ability to negotiate rail access to a number of Chinese North-Eastern seaports
3. Potential access to Chinese financing set aside specifically for mineral resource and infrastructure development in Mongolia.
Mr Xi visit to Mongolia was the first by a Chinese head of state in 11 years and comes on the 65th anniversary of the establishment of diplomatic relations between two countries.
His trip was intended to support Mongolia's bid to export its goods via a trans-shipment route through China, enhancing trade and economic cooperation between the two countries.
Source – Proactive Investors