Aspire Mining has issued an Interim Report on the operations in its four exploration projects in Mongolia, three of which (Ovoot, Nuramt, and Jilchigbulag) are focused on coking coal and the other (Zavkhan) on iron ore. Exploration potential of the Ovoot Basin remains high and the company has upgraded its JORC Compliant Coal Resource to 257 Mt (156Mt Measured, 86Mt Indicated, and 15Mt Inferred). Aspire is investigating a small-scale, pre-rail, road-based operation which could see up to 1 Mtpa coking coal being hauled by road and placed on rail at Erdenet prior to commencement of the intended large scale project producing up to 12 Mt per annum.
The company recently concluded several agreements with the Noble Group covering a comprehensive package of initiatives to further the development of the Ovoot Project by assisting to attain access to rail and port capacity, initial mine and rail pre-development funding and coal marketing.
In 2012, Aspire granted scholarships to four students to study at university, and donations from the company made during the period saw both the completion of construction of the new Tsetserleg Hospital and renovations to the Mogoin Gol Health Clinic.