Aspire Mining (ASX:AKM) said an independent technical report and preconstruction geotechnical surveys were completed for its Ovoot coking coal project in Mongolia, according to a Thursday Australian bourse filing.
The independent technical report supports the returns and technical viability demonstrated in the life-of-mine plan underpinning the current coal reserve estimate, per the filing.
The project has a life-of-mine of over 30 years with 116 million tonnes of life-of-mine-washed coking coal sales.
It has begun site establishment work, to expedite the construction of worker camps and early-stage infrastructure.
The introduction of expanded processing capacity will see a significant step increase projected through 2032, with coal handling and preparation plant feed increasing to 5 million tonnes per annum.
Its shares surged 28% on market close on Thursday.
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