Aspire Mining appoints new executive chairman, bolsters Mongolian leadership

Aspire Mining Limited (ASX:AKM) has announced that Michael Avery has stepped down as non-executive chairman but will remain an independent non-executive director. Achit-Erdene Darambazar has been elected executive chairman, aligning with Aspire’s strategy to bolster executive leadership in Mongolia for the Ovoot Coking Coal Project. Darambazar, president and founder of MICC, brings extensive experience in Mongolian and international capital markets.

In a related update, director Russell Alan Taylor ceased to be a director on September 2, 2025. This change also led to the lapse of 500,000 performance rights expiring on June 30, 2027, due to vesting conditions not being met.

Aspire Mining's focus remains on developing Ovoot into a key supplier of high-quality coking coal, underpinned by its strategic assets, the Ovoot Coking Coal Project (100%) and Nuurstei Coking Coal Project (90%), both located in north-western Mongolia.