Aspire believes that the bottom in the coking coal market was found in the December 2015 quarter with structural change on the supply side in China helping to improve domestic prices while adding to demand in seaborne markets.
“Overall, demand for steel and coking coal remains flat,” the company said in its June quarterly statement.
“Given the company’s view that metallurgical coal prices have formed a base, the company continues to review acquisition opportunities for existing and near production coking coal projects both in Australia and Mongolia in cooperation with a consortium which includes funding provided by Asian based funds.”
Aspire is currently the largest coal tenement holder in the Orkhon-Selenge Coal Basin in northern Mongolia and it wholly owns the Ovoot Coking Coal project.
Through its 50% ownership in the Ekhgoviin Chuluu Joint Venture, Aspire also holds an interest in the Nuurstei Coking Coal project as well as the Erdenebulag Coal project in the south.
