Aspire Mining has snared a major deal with Noble Group that will provide significant support for the development of the Ovoot Coking Coal Project. The two companies have extended their strategic alliance, first entered into in November 2011, which will deliver several port and rail solutions for the Mongolian project including potential access to Noble’s recently acquired Russian Far East Port.Access to seaborne markets is a key part of Aspire’s development strategy for its world class Ovoot Project.
Currently Mongolian coking coal is largely sold to Chinese steel producers and it is a key part of Mongolian development policy to establish access to seaborne markets for Mongolian coal, to provide pricing tension with Chinese customers and establish seaborne price benchmarks for Mongolian coking coal.The revised arrangements with Noble will facilitate Noble’s provision of additional supply chain management services to Aspire.
The ongoing strategic alliance with the Noble Group is a “game changing” deal for Aspire, and recognises the potential of the company’s Ovoot Project.The additional support will provide key rail and port solutions for the supply of coking coal to the high value seaborne market. The backing of Asia’s largest diversified commodities trading company ensures Aspire is on track to meet its end goal of developing seaborne markets for its Mongolian coking coal.