Aspire Mining Limited is an ASX listed exploration and development company focused on discovering and developing world class premium coal deposits in Mongolia, maximising shareholder returns over the long term, and contributing to the social and economic enrichment of local communities. Aspire is a partnership of Mongolian Australian interests with a primary focus 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, India and Korea. Whilst a majority of coal projects are located in the south of Mongolia, Aspire is progressing the development of its flagship wholly owned Ovoot Coking Coal Project (“Ovoot Project”) in northern Mongolia. Ovoot currently has a Probable JORC Compliant Coal Reserve of 219 Mt of coking coal. With only 30% of Ovoot explored to date, Ovoot is already classed as the second largest high quality coking coal Reserve in Mongolia. A positive Pre-Feasibility Study was completed on the Ovoot Project in May 2012, followed by a Revision in December 2012 and Aspire is now focussed on progressing further exploration, continuing development studies and gaining access to rail infrastructure to support a large scale open pit mining operation expected to commence in 2016.
