Aspire Mining reached an agreement with the Ministry of Roads and Transportation to ensure full preparation for the construction of the 542 kilometer Erdenet to Ovoot Railway in spring 2018 and to commence construction in spring 2019. The Mongolian metallurgical coal explorer and infrastructure company listed on the Australian Securities Exchange, Aspire Mining, owns an exclusive 30-year concession from the government to build and operate the Erdenet to Ovoot railway through its subsidiary, Northern Railways LLC. Once completed, the railway will form a part of China’s proposed One Belt One Road policy. Aspire’s Managing Director David Paull and directors from Aspire Mining met with Minister of Roads and Transportation J.Bat-Erdene on January 19 to discuss the current progress of the project. Aspire reported that the final feasibility study will be completed by February 2018 and that talks for investment for the project are progressing. Minister J.Bat-Erdene proposed setting spring 2018 as the deadline for the project preparation and for construction to commence by spring 2019. Directors from Aspire Mining requested the minister to aid in the company’s efforts to receive the license to commence construction and to finalize how the railway will connect to the railways of Russia and China. The first feasibility study of the railway conducted by the China Railway First Survey and Design Institute Group Co Ltd (a subsidiary of China Rail Construction Corporation) concluded that the project is “financially feasible and consistent with Mongolia’s mineral resource development strategy to be supported by growth in rail infrastructure”. The study predicted that the railway will play a significant role in the promotion of regional and social development, and recommended that it be implemented as soon as possible. In terms of costs, with a contingency for a 20 Mtpa capacity single line, the project will require an estimated 1.25 billion USD in capital. “I along with the Ministry of Roads and Transportation are fully ready to exchange information quickly and to take necessary action to ensure the implementation of the project,” said Minister J.Bat-Erdene. The minister went on to discuss how the preparation phase of the project has been slow and asked Aspire Mining to speed up the process while also making their exchange of information and communication with the government more open. Directors from Aspire Mining agreed upon the proposed period of spring 2018 for the completion of its preparation and spring 2019 for the commencement of construction. In February 2017, the Mongolian National Development Agency approved an 18-month extension to the preparation for the Erdenet to Ovoot railway concession agreement. The preparation work taking place in the 18-month extension include feasibility studies, environmental studies and permits, land use agreements, and commercial agreements, including the engineer procurement and construction contract and its funding.