Ovoot, a potential future open pit and underground mining project hosts JORC-compliant reserves of 255 million tonnes of premium coking coal.
A pre-feasibility study (PFS) has been completed and Aspire is now fast-tracking studies for a trucking based solution via the Ovoot Early Development Plan (OEDP).
The OEDP, due in the first half of next year, means production from the project can be unlocked earlier due to the project no longer being entirely tied to project rail infrastructure.
Ovoot’s PFS confirms the potential to deliver up to 10 million tonnes per annum of washed high quality “fat” coking coal over a 20+ year mine life (pending a rail solution).
The OEDP now being progressed will deliver washed coking coal via a trucking solution to the existing railhead at Erdenet.
The existing rail infrastructure can deliver 3 to 4 million tonnes per annum.
The OEDP is anticipated to deliver strong early cash flow and support medium-term delivery of rail solution to unlock full 10 million tonnes per annum production profile.
Aspire owns two coking coal projects and a dedicated rail subsidiary