Modun moves on Mongolian coal project
PERTH (miningweekly.com) – Coal hopeful Modun Resources has submitted a feasibility study for its Nuurst project to the Mongolian government for approval, prior to the mining permit applications.
The feasibility study identified the potential for a 136.9-million-tonne mine, producing about 4.9-million tonnes a year of thermal coal over a life-of-mine of 30 years.
The operation would also deliver about 500 000 t of dried coal briquettes from its fourth year of operation.
Indicative production costs were estimated at $11.50/t for raw coal, over the life of the mine.
MD Rick Dalton said on Monday that the results from the Mongolian feasibility study provided further confidence in the viability of developing the Nuurst project into a low-cost producing mine.
“This study will also be used as a basis for completing more detailed feasibility work required to secure financing for the development of the project.”
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