Deals
Aspire Buys Mongolia Coal Mine Venture With Noble
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Aspire Mining Ltd., the Australian firm developing coking coal assets in northern Mongolia, said it agreed to buy 50 percent of a venture with Noble Group Ltd. to expand its footprint in the Asian nation.
Aspire will issue 10 million shares to Xanadu Mines Ltd., which currently holds the stake in the 50-50 venture with Noble, the Perth-based company said today in a statement. Aspire will give Xanadu a further 5 million shares should the coking coal deposit the venture controls be able to certify that it holds 30 million metric tons of resource.