Aspire Mining Poised for 2026 Highway Tender After Government Approval

Government Endorsement Signals Major Infrastructure Boost

The Government of Mongolia has formally endorsed the Murun-Uliastai Highway Project under a Build-Operate-Transfer (BOT) Public-Private Partnership Agreement (PPPA), a move that directly supports Aspire Mining Limited’s plans for the Ovoot Coking Coal Project. This endorsement represents a significant milestone, as the highway alignment overlaps with the road Aspire intends to construct to facilitate coal transport from its flagship project.

By approving this PPP framework, the Mongolian Cabinet has paved the way for private sector involvement in delivering critical infrastructure that connects provincial centres, enhances logistics competitiveness, and supports both tourism and mining freight. The highway will be operated and maintained by the successful bidder for 23 years, recovering costs through tolls, including those from coal haulage trucks.

Aspire Positioned as Lead Proponent with Strong Foundations

Aspire Mining stands out as the lead private-sector proponent, having already completed comprehensive feasibility studies, detailed designs, and environmental impact assessments for the road. The company also engaged extensively with local communities along the route, ensuring regulatory compliance and social license to operate. These preparatory steps place Aspire in a strong position to participate competitively in the upcoming tender process, which is expected to commence within six months and conclude ahead of the 2026 construction season.

Importantly, this government-backed infrastructure project significantly de-risks the Ovoot development by aligning public investment with Aspire’s operational needs. It reduces the company’s capital expenditure on road construction, thereby supporting funding flexibility and potentially minimizing shareholder dilution. The highway will also facilitate safer and more efficient coal haulage, a critical factor for the project’s long-term viability.

Strategic Partnerships and Financing Pathways

Aspire is actively advancing delivery pathways by engaging with major international contractors and appointing an investment banking adviser to arrange project financing. The company has also retained leading legal firms with expertise in PPP structuring and Mongolian legislation to support the establishment of a Special Purpose Vehicle (SPV) for project implementation. These strategic moves underscore Aspire’s commitment to ensuring the project’s financial and operational success.

CEO Sam Bowles highlighted the significance of the Cabinet’s endorsement, noting that with all major approvals and studies complete, Aspire is well-prepared to support the delivery of this critical infrastructure. The highway is expected to bring broad benefits, not only to Aspire’s Ovoot Project but also to local communities and the wider Mongolian economy.

Looking Ahead

While the tender timeline is approximate and subject to regulatory processes, the government’s endorsement provides a clear signal of intent and momentum. The integration of this highway project with Aspire’s coal development could serve as a catalyst for regional economic growth, improved export capabilities, and enhanced transport logistics in northern Mongolia.