Mongolian wrestler acquires Aspire Mining 51 percent shares

Bolor |

Mongolian well known wrestler Ts.Tserenpuntsag has acquired  51 percent of the Aspire Mining company stocks.  

A total of 33.5 mln USD deal was finalized this week. Exactly one year ago, Tserenpuntsag who possess the third high rank in Mongolian national wrestling, had bought 456 mln shares of the Australia-based Aspire Mining company for ten mln USD.

Aspire Mining develops high quality coking coal mine Ovoot on the territory of the northern Khuvsgul province of Mongolia. Currently, the first stage of the project is underway. According to Ovoot project implementation plan, five million tons of high quality coal is to be mined per year for further export to Chinese, Russian, Eeast European and North Asian markets. Aspire Mining is planning to increase the volume up to ten million tons per year when a market demand in coking coal to go up.


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