Mongolia backs PPP road project supporting Aspire’s Ovoot coal mine
Australia's Aspire Mining on Friday said the Mongolian Cabinet had endorsed the Murun–Uliastai highway project under a build–operate–transfer public–private partnership (PPP) agreement, a move the company says de-risks the development of its Ovoot coking coal project.
The proposed highway overlaps with the haul road Aspire has planned for Ovoot, for which the company has already completed a feasibility study, detailed design, and environmental impact assessment.
The government will tender the project within about six months, with a contract award targeted ahead of the 2026 construction season. The winning bidder will construct, operate, and maintain the road for 23 years, recovering costs through tolls from users, including coal haulage trucks.
Aspire said its position as lead private-sector proponent, having submitted the PPP proposal and worked with the Public-Private Partnerships Centre under the Ministry of Economy and Development, leaves it well placed to support a bid.
The company has engaged international contractors, appointed an investment banking adviser to arrange financing for a special purpose vehicle, and retained international and local legal advisers.
“Cabinet endorsement of the Murun–Uliastai highway is a major milestone for Aspire and Mongolia. With approvals, feasibility studies and community consultation complete, we are ready to support delivery of this critical infrastructure, which will benefit both local communities and Aspire’s Ovoot project,” CEO Sam Bowles said.
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