(MENAFN- ProactiveInvestors)
Aspire Mining () non-executive director Mark Read has stepped down from his position to pursue other interests.
Read was appointed in July 2011 as was also involved as the chair of the Remuneration Committee and member of the Audit and Risk Committee.
“There is currently no intention to replace Mark on the Board at this time as we continue to focus on reducing overhead costs while progressing the future development of our rail and coal assets in Mongolia” chairman David McSweeney said.
Yesterday Aspire said it will work with China Railways Construction Corporation subsidiary China Railway 20 Bureau Group Corporation to complete the first stage of the Erdenet to Ovoot Rail Bankable Feasibility Study in Mongolia.
This comprises desk top engineering of the entire 547 kilometre alignment based on 1:5000 scale maps currently being prepared and delivered by Aspire subsidiary Northern Railways.
The rail line is a key requirement to unlock the value of the Ovoot Coking Coal Project and future earnings from mining and production from the project for Aspire.
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