Saikhan-Ovoo Coal Mine

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The Saikhan-Ovoo Coal Mine (Mongolian: Сайхан Овоо, beautiful mound) was a proposed underground coal mine in Bulgan Province, Mongolia.

In June 2019, the mine's owner, Asia Coal Ltd., was delisted from the Stock Exchange of Hong Kong. Without any public updates on new ownership or continued mine planning, the mine is presumably cancelled.

Location

The undated satellite photo below shows the approximate location of the underground mine site, in Saikhan District, Bulgan Province, Mongolia, to the north of Saikhan-Ovoo Mountain.

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Background

According to the Mongolian Mining Journal in 2012, geological assessment and drilling work on the Saikhan-Ovoo coal mine "were done in the central areas of the deposit in 1987-1999 and 34.7 million tons of coal was estimated". The Journal goes on to say that "Asian Coal Ltd., registered on the Hong Kong Stock Market, has an operation licence on Saikhan-Ovoo deposit with an estimated JORC reserve of 190 million tons. Their first-half report [of 2012] says that no work was done on the project for financial constraints. At that time, 500,000 tons of coal had so far been produced."[1][2]

In June 2019, the company Asia Coal Ltd. was delisted from the Stock Exchange of Hong Kong, "because the Company failed to maintain sufficient operations or assets." It is unclear whether the company currently exists, or who currently owns the mine.[3]

According to the last archived capture (April 2020) of the now defunct Asia Coal Ltd. Saikhan Ovoo project webpage, full impairment loss of the mining right licenses had been recognized.[4]

Project Details

  • Operator:
  • Owner: Asia Coal Ltd.
  • Location: Saikhan District, Bulgan Province, Mongolia
  • GPS Coordinates: 48.805, 102.419444 (approximate)
  • Mine Status: Cancelled
  • Production: Unclear (less than 1 MTPA)
  • Total Resource:
  • Mineable Reserves: 34.7 mt
  • Coal Type: Coking coal
  • Mine Size:
  • Mine Type: Underground
  • Start Year:
  • Source of Financing:

Articles and resources

References

  1. Saikhan-Ovoo coal mine, Wikipedia, accessed Apr. 2021.
  2. "Strategy on strategic mineral missing," Mongolia Mining Journal, 2012-09-27
  3. ANNOUNCEMENT - IN RELATION TO THE MATTER OF ASIA COAL LIMITED (INCORPORATED IN BERMUDA WITH LIMITED LIABILITY) (STOCK CODE: 835) CANCELLATION OF LISTING, The Stock Exchange of Hong Kong Ltd, 13 June 2019.
  4. Saikhan Ovoo coal project, Archived Asia Coal website, accessed July 13, 2022.

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External resources

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