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Aspire Mining coking coal test results confirm premium product

Shares in the company have nearly quadrupled since April 2018.

coking coal being tested
Nuurstei is a near-term coking coal production asset

Aspire Mining Ltd (ASX:AKM) has received results from pilot-scale carbonisation test work on a 300-kilogram bulk sample from its Nuurstei Coking Coal Project in Mongolia.

The tests confirm the presence of premium hard coking coal at Nuurstei which once washed will be very competitive on a quality basis with the best available coking coals on the market.

READ: Aspire Mining welcomes new Russia-Mongolia agreement lowering rail transit costs

Aspire’s executive chairman David Paull said: “These coke results demonstrate that coal from Nuurstei will be potentially sought after by Japanese and Korean steel producers as well as from Chinese steel mills where higher quality inputs into the steel industry are being sought.

“It also demonstrates that Mongolia can supply premium coking coals to the world’s steel industry.”

Results in prime hard coking coal category

The 300-kilogram washed sample was taken from a shallow open pit adjacent to the Nuurstei mining license, the coal being the up-dip surface expression of the Nuurstei deposit.

The coal scored a high CSR (coke strength reactivity) result of 78 - prime hard coking coals are normally specified at 68 to 72 CSR.

The coal’s CRI (coke reactivity index) score was a low 14.6, consistent with the high CSR score.

Two core coal assets in Mongolia

Aspire has two key assets in Mongolia, the wholly-owned Ovoot Coking Coal Project and a 90% stake in the Nuurstei Coking Coal Project.

Ovoot is a world-class asset containing 255 million tonnes of coal reserves which makes it the second largest coking coal project by reserves in Mongolia.

Aspire aims to commence a road-based production operation in the near-term at Nuurstei.

Quick facts: Aspire Mining Ltd

Price: 0.079 AUD

Market: ASX
Market Cap: $40.1 m

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