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Aspire Mining ( (AU:AKM) ) has provided an update.
Aspire Mining Limited has announced the signing of a $69.9 million lump-sum EPC contract with China Coal Technology and Engineering Group Corp. to develop key components of its Ovoot Coking Coal Project, including a Coal Handling and Preparation Plant (CHPP) and the Erdenet Rail Terminal (ERT). This milestone secures critical project capital costs under a fixed-price structure, reducing risks related to cost and schedule uncertainties. Set for completion by Q4 2027, the project positions Aspire to target coal production and export, with infrastructure designed to enable future capacity expansion. The contract also enhances funding flexibility, ensuring smoother financial management and bolstering its market positioning in the competitive coal industry.
More about Aspire Mining
Aspire Mining Limited is an Australian company focused on the development of coal mining projects. Its flagship initiative, the Ovoot Coking Coal Project in Mongolia, aims to produce high-quality coking coal for export markets. Aspire is dedicated to delivering robust infrastructure solutions and leveraging partnerships to enhance its operations.
Average Trading Volume: 93,230
Technical Sentiment Signal: Buy
Current Market Cap: A$132M
For an in-depth examination of AKM stock, go to TipRanks’ Overview page.