Welcome to Aspire Mining Limited
Aspire Mining Limited is an ASX listed (ASX: AKM) 100% metallurgical coal and rail company focused on developing world class premium coking coal deposits in Mongolia to deliver long term shareholder returns, and contributing to the social and economic enrichment of local communities.
Mongolia is a resource rich country, with a rapidly developing coal mining industry expected to become a key global supplier given Mongolia’s close position to some of the largest steel making producers worldwide – China, Japan, Korea and Russia.
Aspire is a large coal tenement holder in the Orkhon-Selenge Coal Basin in northern Mongolia with a 100% interest in the world class Ovoot Coking Coal Project (Ovoot), a 90% interest in the Nuurstei Coking Coal Project (Nuurstei) – and a strategic infrastructure owner via its 80% interest in Northern Railways LLC.
Aspire’s flagship Ovoot project hosts 255 Mt JORC Coal Reserves and could sustain full scale production of up to 10 Mtpa of saleable coking coal over a long mine life.
Aspire is now advancing a definitive feasibility study for September 2019 for a decision-to-mine on the ‘Ovoot Early Development Plan’ (OEDP) 4Mtpa medium term truck/rail mining solution – having completed two pre-feasibility studies, received a mining licence, and approval by the Mineral Resource Authority of Mongolia. (Subsequent expansion to more than the 4Mtpa saleable output rate will require construction of the Erdenet – Ovoot railway to link Ovoot with Mongolia’s existing rail system.)
The February 2019 OEDP PFS outlined a 4Mtpa, 9.2year LOM truck/rail operation delivering a $US586M NPV10 , 43.7% IRR net of capital payback with cash operating costs in the 2nd quartile globally, with potential to extend minelife under truck/rail to 12.5 years and longer if required.
Aspire also holds a 90% interest in the early stage Nuurstei Coking Coal Project (4.7 Mt Indicated, 8.1 Mt inferred JORC resource). The Company anticipates Nuurstei’s mineral and commercial potential to be explored in more detail once Ovoot’s OEDP has advanced.
Northern Railways LLC (Northern Railways), is a Mongolian infrastructure company, owned 80% by Aspire and backed by a consortium including and subsidiaries of Fortune 500 listed China Gezhouba Group Corporation and China Railways Corporation.
The consortium is currently progressing the development of the Erdenet – Ovoot rail section under a 30 year exclusive ‘build and operate’ concession granted by the Government of Mongolia with completion of key conditions precent due by February 2020, toward a decision to build.
The Erdenet – Ovoot railway represents one section of a new Northern Rail Corridor that would link China to Russia through Mongolia. This is part of Mongolia’s national rail policy, China’s One Belt One Road Policy and Russia’s Eurasian Economic Development Policy.
