Noble Energy to Increase Stake in Aspire Mining

Bloomberg reported that Noble Energy intends to increase its stake in Aspire Mining to assist the company to expand its Mongolian railway in order to boost coal shipments.

As quoted in the market report:

The Hong Kong-based trader will pay A$2.8 million ($2.9 million), or 8 cents a share, to increase its holding to 15 percent from 10 percent, Perth-based Aspire said today in a statement. Noble will also pay 10 percent of pre-development costs for a railway that will link Aspire’s coal mine to the existing Trans-Mongolian rail line, Aspire said.

To view the whole Bloomberg report, click here.