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  • Aspire Mining Appoints Noble Group Senior Executive To Board 0 comments
    Apr 18, 2013 3:09 AM

    Aspire Mining (ASX: AKM) has appointed Hannah Badenach as a non-executive director.

    Badenach is currently vice president of asset development and operations for Noble Group (SGX: N21) subsidiary Noble Resources.

    She has considerable experience in management and development within Mongolia.

    Badenach has previously practised law for several years in Asia, including two years in Mongolia with Lynch & Mahoney.

    From 2006 she was managing director of QGX Mongol LLC, a coal explorer and developer prior to its takeover in 2008 by Mongolia Holdings Corporation.

    Aspire last week completed a Rail Pre-Feasibility Study Revision confirming that it could save US$200 million by taking a more direct route further to the south for its proposed Erdenet to Ovoot rail extension in Mongolia.

    This reduces capital expenditure for the rail line to US$1.3 billion.

    Importantly, further capital expenditure cost savings are possible from a de-rating of haulage capacity from 22 million tonnes per annum to an initial starting capacity of between 10 and 12Mtpa.

    Aspire has the second largest coking coal reserve in Mongolia at Ovoot and the coal ranks among the highest quality coking coal in the world.

    The company will continue to work on advancing the Erdenet to Ovoot railway by providing more engineering definition and progress towards a Bankable Feasibility Study.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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