Mining Intelligence and News
Mongolia

Ovoot Project

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Categories

Overview

Mine TypeOpen Pit
StagePermitting
Commodities
  • Coal (metallurgical)
  • Coal (coking)
  • Coal (thermal)
Mining Method
  • Truck & Shovel / Loader
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SnapshotThe Ovoot Coking Coal Project (Ovoot) is a world-class operation, recognized for its scale, exceptional product quality, and strong project economics.

Aspire Mining Limited is on the pathway to production, aiming to deliver premium ‘fat’ coking coal, classified within the highest category of coking coals.

With all major regulatory approvals secured, Ovoot is rapidly advancing toward construction, paving the way for project commencement and operations.

Owners

SourceSource
CompanyInterestOwnership
Aspire Mining Ltd. 100 % Indirect
Khurgatai Khairkhan (KK) LLC holds mining licence MV017098 which covers the Ovoot Coking Coal Project. Khurgatai Khairkhan LLC is wholly owned by ASX-listed company, Aspire Mining Limited.

Contractors

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Deposit type

  • Sedimentary

Summary:

The Ovoot Project is situated on the western edge of the Ovoot Jurassic-Carboniferous sedimentary basin, which in turn is part of the large Orkhon-Selenge Basin.

The Ovoot Basin is Jurassic to Cretaceous in age and is estimated to cover some 240,000 km2 . The basin succession unconformably overlies basement rocks consisting of:
• Lower Cambrian metamorphosed sediments and limestones;
• Permian volcanic -subvolcanic units;
• Late Permian to Early Triassic granitoid intrusions.

The older basement fabric and composition provide a first-order control on younger overlying basin architecture and evolution. A major east-west suture (controlling the course of the Selenge River), the Bulnai Fault, lies to the south of the OZB and accommodated extensional and compressional events that took place along the marge of the Siberian craton during the final stages of amalgamation. This fault is one of a number of arcuate sutures/terranes in the central Hangay region that provided the first-order structural grain for younger basin development in Mongolia.

This crustal fabric controlled the geometry and kinematics of all subsequent tectonic events (Badarch et al., 2002), including the four main basin-forming events evident in the OZB area.

The Ovoot coal basin is a depression that is elongated in a general northeast trend. The depression has two troughs that are separated by a spur of basement high trending southeast. The southeastern limit of the depression is tectonic. The boundary of coal-bearing strata is a prominent normal fault trending to the northeast.

The total thickness of coalbearing strata is approximately 300 – 400 m, increasing from the southwest to the northeast Coal occurs in two structurally and geometrically complex seam packages designated the Upper Seam (U seam code prefix) and lower Seam (LO seam code prefix).

Quaternary alluvium and locally basalt lavas cover most of the basin, occupying the main drainage courses and adjacent plains. The thickness of the Quaternary cover is in the range from 20 m to 150 m.

The total thickness of coal-bearing strata is approximately 300–400 m, increasing from the southwest to the northeast. Coal occurs in two structurally and geometrically complex seam packages designated the Upper Seam (U seam code prefix) and Lower Seam (LO seam code prefix).

The Ovoot seam structure is geometrically and structurally complex (basement onlap, unconformities, faults, seams lensing in and out) at the southern and southeastern parts of the deposit. SRK used the Split/Merge method to manage the relationship between the main and subordinate seams and for interpolation and extrapolation of coal intervals missing in some boreholes.

Three faults with a general northeast trend were interpretated at the southwestern part of the project area. Faults were introduced into the model as ‘Fault NT’ (i.e. no throw), which indicates discontinuities for which the throw of the fault has not been determined. The fault displacements are calculated by the software based on the seam grid elevations either side of the discontinuity.

Reserves

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Mining Methods

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Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Production

CommodityProductUnitsLOM
Coal (coking) Clean coal Mt 98
Coal (thermal) ROM coal Mt 3.6

Operational metrics

Metrics
ROM coal, LOM  ....  Subscribe
Annual ore mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe
Stripping / waste ratio  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityUnitsAverage
Assumed price Coal (coking) USD  ....  Subscribe
Assumed price Coal (thermal) USD  ....  Subscribe
* According to 2024 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Heavy Mobile Equipment

Fleet data has not been reported.

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 20, 2025
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Aerial view:

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