ASPIRE MINING SIGNS UP RUSSIAN CUSTOMERS FOR OVOOT COKING COAL

Ulaanbaatar /MONTSAME/ Australia-invested Aspire Mining Wednesday signed a long-term agreement with a Russian buyer for coking coal from the Ovoot Project in Mongolia. Within the agreement, Aspire Mining will supply the Russian with up to 1.3 million tons of coking coal per annum for at least five years. "We are very pleased with finding a customer in Ovoot coking coal in relatively short time," the managing director David Paull said. "We have also been successful at expanding rail and port capacity to other markets". The Ovoot site in northern Mongolia, where Aspire Mining has been implementing their project, has a high quality coking coal reserve of 250 million tons.