Aspire Mining Ltd (ASX:AKM) has presented at the Silk Road Summit conference in Washington D.C. to introduce the New Northern Corridor to a broad audience of government and funding stakeholders.

The rail corridor is a new rail trade route between Russia and China through Mongolia and has been incorporated into China";s One Belt One Road policy.

Aspire is the largest coal tenement holder in Mongolia";s Northern provinces and is the 100% owner of the Ovoot Coking Coal Project which is the second largest coking coal project by reserves in Mongolia.

The Ovoot project development is dependent on the construction of the Erdenet to Ovoot railway which is a part of the Northern Rail Corridor.

Aspire recently received an expression of interest (EOI) from China Development Bank to fund up to 75% of the engineering, procurement and construction contract to build the Erdenet to Ovoot Railway in Northern Mongolia.


Background

Production from the Ovoot project can coincide with the commissioning of the Erdenet to Ovoot railway.

Aspire recently commenced the first stage of the rail feasibility study to extend Mongolia";s national rail network from the city of Erdenet to its flagship Ovoot Coking Coal Project in Mongolia.

The 547 kilometre extension has recently been included in a new Northern Rail Economic Corridor connecting China and Russia through Mongolia as part of China";s One Belt One Road Policy.

Northern Railways has formed a consortium with two subsidiaries of China Railways Corporation to progress the development of the Erdenet to Ovoot railway – China Railways 20 Bureau Group Corporation (CR20G) and China Railway First Design Survey and Design Institute (FSDI).

CR20G is the nominated engineering, procurement and construction contractor and FSDI has been contracted to undertake the bankable feasibility study.

FSDI has commenced the first stage of a bankable feasibility study, which is due for completion by 31 December 2016.


Silk Road Summit

The 2016 Silk Road Summit conference was recently held in the U.S. capital or Washington D.C. to provide an opportunity for business development in a new emerging market– a trading belt from Asia to Europe.

Conference topics included:

- Silk Road Economic Belt;
- Business development and commercial opportunities;
- Infrastructure project pipeline; and
- Trade and cross-border investment.

Presenters included members representing government, national embassies, banks and trade organisations.


Analysis

Aspire";s involvement in the Silk Road Summit provides opportunity to attract new investors and gain valuable relationships.

Aspire";s inclusion in the Economic Corridor in late June has proven to be a key price catalyst for the stock and the foundation for development milestones.

Such milestones include the recently received EOI from China Development Bank (CDB) to fund up to 75% of the engineering, procurement and construction contract.

This interest from CBD increases the certainty of the railway";s construction required for the development of Ovoot, which in turn can unlock value for shareholders.

Subject to the completion of a feasibility study, the Erdenet to Ovoot railway may receive priority funding from China";s Policy Banks, Sinosure, Asian Infrastructure Investment Bank (AIIB) and funds such as the Silk Road Fund.

The stock is up 525% year to date, currently trading at $0.05.

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