Coal Mining News in Mongolia

Aspire Mining Limited
Aspire Mining Limited
AKM
Coal
Mongolia

AKM: Corporate Presentation

Aspire Mining Limited presented an update on its Ovoot Coking Coal Project, highlighting its world-class status with a JORC Coal Resource of 219.4 Mt and a Marketable Reserve of 97.9 Mt. The project demonstrates strong economics, including a post-tax NPV10 of US$1.48 billion and an IRR of ~60%, supported by a low-capex development plan and ongoing construction. The company is progressing with funding through vendor financing and a Mongolian OTC bond program, aiming for first coal sales in Q4 2027 to meet a forecast supply deficit in northern China.

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Aspire Mining Limited
Aspire Mining Limited
AKM
Coal
Mongolia

AKM: Ovoot Coal Reserve Update Additional JORC Disclosure

Aspire Mining Limited has reconfirmed its Coal Reserve estimate for the Ovoot Coking Coal Project in Mongolia, reporting a Total Coal Reserve of 130.1 million tonnes and a Marketable Coal Reserve of 97.9 million tonnes, effective 31 March 2026. An updated economic evaluation, incorporating a revised development strategy and lower initial capital expenditure, indicates a post-tax NPV10 of US$1.48 billion and a post-tax real IRR of 60%. The update also details a financing strategy assuming US$126.0 million in Mongolian OTC bond issues and US$42.0 million in deferred payments for infrastructure.

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