Aspire Mining Limited (ASX: AKM) holds the Ovoot (100%) and Nuurstei (90%) mining licenses in Khuvsgul aimag (province) of north-western Mongolia which both contain premium quality coking coal, a critically required mineral used in the production of iron and steel.
The Company is primarily focused upon developing the Ovoot Coking Coal Project into a world-class operation to mine a unique and highly sought after ‘fat’ coking coal via open pit methods, beneficiate it onsite, and deliver it to customers in China and beyond utilising the existing trans-Mongolian rail network.
Developing coking coal projects in Mongolia has several strategic advantages, including:
Stable Democracy
Mongolia has been recognized for its stable and vibrant democracy since the early 1990s. Its stable democracy is a testament to the country’s dedication to democratic principles and the active participation of its citizens in the political process.
Pro-Business Environment
The Government of Mongolia has implemented various reforms to attract foreign investment, and for the past several years has been consistent in its commitment to creating a favourable environment for foreign investors.
Strong Mining Sector
Mining is a crucial sector for Mongolia’s economy, contributing more than 20% to its GDP and generating nearly 90% of its export revenue.
Human Resources
With a young and increasingly educated population, including a 98% literacy rate, providing a labour force that is adaptable and trainable. There are more than 40,000 Mongolian mining professionals in the workforce.
Proximal to Market
Adjacent to China, currently responsible for more than half the world’s production of steel and consumption of coking coal, and with bilateral agreements in place enabling transit of products to seaborne markets.
Our Impact
Aspire is deeply committed to operating in a responsible manner supportive of our host communities and safeguarding the environment. Through our operations, Aspire aims to deliver tangible benefits to our host communities, by building infrastructure that supports existing agricultural and tourism industries, whilst also providing local employment and procurement opportunities to support the broader economy.
Our Logo
The Aspire logo symbolises our commitment to creating long term benefits for our stakeholders, including both investors and our host communities.
It is inspired by the Edelweiss flower (‘Цагаан уул цэцэг’ or ‘Tsagaan uul tsetseg’ in Mongolian), which is found in the mountainous regions of northwestern Mongolia, representing immortality, combined with the continuous hammer or walking pattern (‘Алхан хээ’ or ‘alkhan khee’ in Mongolian) used widely in traditional art forms, representing opportunity, forward momentum and prosperity.
Tsagaan-Uul, meaning ‘white mountain’ in Mongolian, is also the name of the soum (district) immediately to the east of Tsetserleg where the Ovoot Coking Coal Project is to be developed, and through which much of the road planned for construction in support this will be built.
Our Mission
We at Aspire are dedicated to mining excellence, ensuring the development of top-tier coking coal deposits in Mongolia, all while prioritizing the well-being and advancement of our host communities.
Our Vision
Aspire envisions a future where sustainable practices in mining are the norm, setting the standard for responsible resource extraction and sustainability, while enhancing the economic and social well-being of communities.
Our Values
People
We prioritize people above all else. We recognize that our employees are our greatest asset, and we are committed to fostering a supportive, inclusive, and empowering workplace culture where every individual feels valued, respected, and heard. We value and respect our people and those that we interact with.
Sustainability
We will operate safely and ethically to ensure that our business is sustainable socially, environmentally, and economically. We adopt sustainable practices across our supply chain, from sourcing raw materials to manufacturing and distribution. We prioritize suppliers and partners who share our commitment to sustainability and ethical business practices.
Community
We cultivate a sense of community and belonging both within our organization and beyond. We encourage and support our employees’ involvement in community service, volunteerism, and charitable initiatives.
Integrity
We act with honesty, transparency, and accountability in all our endeavours. Integrity forms the foundation of our relationships with customers, partners, and colleagues. integrity is the cornerstone of everything we do. We hold ourselves to the highest ethical standards, always acting with honesty, transparency, and fairness in every interaction, and decision.
Passion
We are driven by a relentless passion for our work and a shared vision of success. We approach challenges with enthusiasm, perseverance, and a determination to make a difference.