Aspire conducts its activities in the vicinity of various sub-provinces... > Read More
Aspire’s wholly owned Ovoot Project comprises one mining and th... > Read More
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Aspire Mining Limited is an ASX listed (ASX: AKM, Aspire or the Company) exploration and development company focused on discovering and developing world class premium coking (metallurgical) coal deposits in Mongolia, maximising shareholder returns over the long term, and contributing to the social and economic enrichment of local communities.
Aspire’s primary focus is on Mongolia, a resource rich country with a rapidly developing coal mining industry emerging as a key future supply source given Mongolia’s close geographical position to some of the largest coking coal consumers worldwide – China, Russia, Japan, and Korea.
The Company is the largest coal tenement holder in the Orkhon-Selenge Coal Basin in northern Mongolia. Aspire owns a 100% interest in the large scale, world class Ovoot Coking Coal Project (Ovoot), the second largest coking coal project by reserves in Mongolia, and a 100% interest in the Jilchigbulag and Myangan Coal Projects. Through its 50% ownership in the Ekhgoviin Chuluu Joint Venture (ECJV), Aspire also holds interests in two exploration coal projects, the Nuurstei Coking Coal Project (Nuurstei), and the Erdenebulag Coal Project (Erdenebulag).
Aspire’s flagship Ovoot project is host to 255 Mt JORC Coal Reserves and can sustain full scale production of up to 10 mtpa of saleable coking coal over a 21 year life of mine. Ovoot is ready to head into a definitive feasibility study having completed two pre-feasibility studies, received a mining licence, and approval by the Mineral Resource Authority of Mongolia for its Mongolian Feasibility Study. Ovoot’s development is dependent on the construction of the Erdenet – Ovoot railway.
The Company has recently entered into a Memorandum of Understanding with Erdenes Tavan Tolgoi JSC, owner of the Tavan Tolgoi Coal Mine, allowing for cooperation on assessments regarding the blending of Aspire's Ovoot coking coal with coals from Tavan Tolgoi, in a project aiming to improve the quality of large quantities of previously unmarketable coals. This has significant value adding capabilities for both the Ovoot and Tavan Tolgoi projects.
The Company is also continuing to explore its other coal assets, such as Nuurstei, which may provide an opportunity for a small scale road based operation prior to the Erdenet – Ovoot railway being commissioned.
The Erdenet – Ovoot railway represents one section of an international rail link, part of Mongolia’s national rail policy, which extends its existing rail network to connect northern Mongolian with Russia’s Siberia. Northern Railways LLC (Northern Railways), a Mongolian infrastructure company backed by a consortium including Aspire, and subsidiaries of Fortune 500 listed China Railways Corporation, is currently progressing the development of the Erdenet – Ovoot section under a concession granted by the Government of Mongolia. Construction of this railway is expected to take up to five years.