Aspire Mining (ASX:AKM) said the Mongolian government approved the Murun-Uliastai highway project under a build-operate-transfer public-private partnership agreement, according to a Friday filing with the Australian bourse.

The company is the lead private-sector proponent for the planned highway alignment, which overlaps with the road it proposes to construct to support its Ovoot project, the filing said.

The tender process for the highway project is expected to take up to six months, according to the filing.

Shares rose 8% in morning trade on Friday.