14.10.2013 > Modun signs Memorandum of Understanding for the...

14.10.2013

> Modun signs Memorandum of Understanding for the supply of coal briquettes to the Mongolian Government as part of their Clean Air Initiative to reduce air pollution in Ulaanbaatar
> The Ulaanbaatar City Air Quality Agency agrees to purchase coal briquettes for 5 years
> The Mongolian Ministry of Mining commits to providing policy support to Modun to deliver the project
> Achievement of a significant local milestone that is required prior to executing the Off-take Agreement for the supply of coal briquettes
> Negotiations for the Off-take Agreement with the Mongolian Government for the supply of coal briquettes are in the final stages of discussions
> The independent Mongolian Feasibility Study is at final review stage.

Modun’s successful proposal was based on using thermal coal from its Nuurst Project and creating briquettes using a binderless coal briquetting process. Rick Dalton, the Managing Director of Modun said “this is a very significant achievement for Modun. We have been through an extensive testing process and we are excited to be the only international company selected as a preferred supplier of coal to the Mongolian Government under their Clean Air Initiative. We are also very proud to take technology developed in Australia and to employ it to help one of the fastest growing economies in the world meet their growing energy and heating demands as well as helping reduce their pollution levels.”