Ovoot Coking Project
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Ovoot Coking Project (Овоотын коксжих нүүрсний төсөл) is a proposed coal mine in Khuvsgul, Mongolia.
Location
Table 1: Project-level location details
| Mine Name | Location | Coordinates (WGS 84) |
|---|---|---|
| Ovoot Coking Project | Khuvsgul, Mongolia | 49.364115, 97.496487 (approximate) |
The map below shows the approximate location of the coal mine:
Project Details
Table 2: Project status
| Status | Status Detail | Project Type | Opening Year | Closing Year |
|---|---|---|---|---|
| Proposed | Permitted[1] | New | 2026[2] | – |
Table 3: Operation details
| Capacity (Mtpa) | Production (Mtpa) | Year of Production | Mine Type | Mining Method | Mine Size (km2) | Mine Depth (m) | Workforce Size |
|---|---|---|---|---|---|---|---|
| 5[3] | – | – | Underground & Surface | Mixed | 130 | 250 | – |
Table 4: Coal resources and destination
| Total Reserves (Mt) | Year of Total Reserves Recorded | Total Resources (Mt) | Coalfield | Coal Type | Coal Grade | Primary Consumer/ Destination |
|---|---|---|---|---|---|---|
| 130.1[4] | 2024[4] | 219.4[4] | – | Bituminous | Met | – |
Table 5: Ownership and parent company
| Owner | Parent Company | Headquarters |
|---|---|---|
| Aspire Mining [100.0%] | Aspire Mining | Australia |
Note: The above sections were automatically generated and are based on data from the Global Coal Mine Tracker August 2026 release.
Ownership Tree
This ownership tree is part of the Global Energy Ownership Tracker, a project of Global Energy Monitor.
Background
The Ovoot coking coal project is a proposed open cut coking coal project owned and operated by the small Australian firm, Aspire Mining.[5] According to project sponsor Aspire Mining, the mine has probable open-pit coal reserves of 247 million tonnes, as well as 8 mt underground, for a total of 255 Mt. In August 2012, the Company was granted a mining license over the resource area. The company also has two contiguous exploration licenses. The three licenses combined cover 130 square kilometers.[6] The feasibility study for the project was approved by the Mineral Resource Authority of Mongolia in 2013.[7]
The project is expected to have initial production of 5 million tonnes per annum, eventually reaching up to 10 million tonnes per annum of coking coal over 21 years of mine life. The start of production from Ovoot project is planned to coincide with the commissioning of the Erdenet-Ovoot railway, which is 2023. The coal will be sent to a new coal blending facility in southern Mongolia, where it will be blended with other coals before being railed to Chinese and Russian customers or to Chinese ports for export.[7]
In June 2020, a preliminary draft of the Definitive Environmental Impact Assessment (DEIA) was prepared and disseminated amongst relevant stakeholders. However, due to the covid-19 pandemic, approval of the DEIA has been postponed.[8]
There have been few public updates on the Ovoot project in recent years, although the project still appears to be proposed. According to Aspire Mining's 2021 Annual Report, "The Company is well funded and supported to rapidly progress the development of the world class Ovoot Coking Coal Project but has run into COVID-19 related obstacles in the permitting processes through 2020/21 which has hamstrung on the ground pre-development activities."[9]
In January 2023, the company progressed regulatory approvals.[10] As per investor presentation dated May 2024, construction was targeted to start in Q4 2024 with a 12-month path to start of production.[11] As of September 2024, Aspire Mining expected to update JORC Resources and Reserve Estimates, update project economics and to finalize financing for the mine.[12]
In late 2024, Aspire Mining updated its JORC Coal Resource estimate for the Ovoot project to 219.4 Mt. Coal Reserves were estimated at 130.1 Mt, supporting a 31-year mine life.[13]
In 2024, Aspire Mining received approval from the Mongolian Ministry of Nature, Environment and Tourism for the Detailed Environmental Impact Assessments (DEIA) covering the Coal Handling and Preparation Plant (CHPP) and associated haulage roads. The Ministry of Road and Transportation Development separately approved the detailed design for road infrastructure.[13]
The project planned to produce washed "fat" coking coal via an onsite CHPP, with coal trucked approximately 190 km to Murun along a new paved highway before being railed to customers via the Erdenet Rail Terminal. Initial production was targeted at 1.5 Mtpa Run-of-Mine, ramping up to 2.5 Mtpa and then 5.0 Mtpa following modular CHPP expansion. Construction of the CHPP and Erdenet Rail Terminal was targeted to commence in 2025 and be completed by Q4 2026. [14]
In September 2025, the Mongolian Cabinet endorsed the Murun–Uliastai Highway as a public-private partnership (PPP) project, with its alignment overlapping Aspire's planned haul road to the Ovoot mine. The government instructed the Ministry of Economy and Development to organise a public tender, expected within six months, with a contract award targeted ahead of the 2026 construction season. The winning bidder would construct, operate, and maintain the road for 23 years, recovering costs through tolls. Aspire appointed an international investment bank as financing adviser and retained Mayer Brown as legal counsel for PPP structuring. [15]
As of early 2026, construction had not yet commenced. The Q4 2024 construction target cited in the May 2024 investor presentation was not met. Financing discussions with debt lenders were ongoing, and the award of contracts for the CHPP and Erdenet Rail Terminal remained pending.[13]
- Operator: Aspire Mining
- Owner: Aspire Mining
- Location: Khuvsgul province, Mongolia
- GPS Coordinates: 49.364115, 97.496487 (approximate)
- Mine Status: Proposed
- Annual Capacity: 4 mtpa
- Mineable Reserves: 255 Mt
- Coal Type: Metallurgical
- Mine Size: 130 square kilometers
- Mine Type: Surface (247 Mt), Underground (8 mt)
- Start Year: 2026
- Life of Mine: 21 years
- Source of Funding:
Articles and Resources
Additional data
To access additional data, including an interactive map of world coal mines, a downloadable dataset, and summary data, please visit the Global Coal Mine Tracker on the Global Energy Monitor website.
References
- ↑ https://web.archive.org/web/20260701063619/https://app.sharelinktechnologies.com/announcement/asx/ea7ce80307aff10b6c065e9d4f25eda1. Archived from the original on 01 July 2026.
{{cite web}}: Check date values in:|archive-date=(help); Missing or empty|title=(help) - ↑ (PDF) https://api.investi.com.au/api/announcements/akm/06069e71-08a.pdf.
{{cite web}}: Missing or empty|title=(help) - ↑ https://aspirelimited.com/ovoot/.
{{cite web}}: Missing or empty|title=(help) - ↑ 4.0 4.1 4.2 https://kosec.com.au/aspire-mining-rebounds-to-profit-as-ovoot-project-gains-regulatory-momentum/.
{{cite web}}: Missing or empty|title=(help) - ↑ Australian Trade Commission, "Mongolian Mining Projects Report 2011", January 2011, page 47. (This report is not available online).
- ↑ Ovoot coking coal project, Aspire Mining, accessed 24 September 2020
- ↑ 7.0 7.1 "Ovoot Coking Coal Project," NS Energy, accessed 24 September 2020
- ↑ "Aspire Mining’s future production plans," Mining See, Aug. 27, 2020
- ↑ Annual Report 2021, Aspire Mining Limited, accessed July 2022.
- ↑ Aspire Mining progresses regulatory approvals for Ovoot Coking Coal Project, Pro Active Investors, January 2023
- ↑ "Corporate Presentation | May 2024" (PDF). api.investi.com.au. May 2024.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Appointment of Russell Taylor as Executive Director" (PDF). api.investi.com.au. September 2024.
{{cite web}}: CS1 maint: url-status (link) - ↑ 13.0 13.1 13.2 "Aspire Mining Advances Ovoot Toward Construction". KOSEC. May 2, 2025. Retrieved March 6, 2026.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Ovoot Project". Aspire Limited. Retrieved March 6, 2026.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Mongolia backs PPP road project supporting Aspire's Ovoot coal mine". Mining Weekly. September 12, 2025. Retrieved March 6, 2026.
{{cite web}}: CS1 maint: url-status (link)
