Celsius Coal eyes improved market access from $400m boost to Kyrgyzstan roads
A $400 million Chinese investment in Kyrgyzstan infrastructure will boost route-to-market options for Australia-listed coking coal junior Celsius Coal, the miner said on Tuesday December 17.
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The funds will be used to build a new north-south road across Kyrgyzstan from Jalal-Abad to Bishek, passing close to the miner’s Uzgen Basin coking coal project.
“The new road infrastructure will open up new markets for us by creating a shorter and more efficient transport corridor to Bishkek in the north. Once on this new road [coal shipments will be] able to link to other existing roads that provide transport options for export via road to Xinjinah province in China,” Celsius said.
Celsius announced plans to start multi-rig drilling at its Uzgen project in July. The company reported a 255 million-tonne maiden inferred JORC resource last year at the project, which includes the Kargasha, Kokkia and Min Teke deposits and covers an established Soviet-era coking coal resource.