Prophecy Development Corp. (Prophecy) will start up the Mongolian Ulaan Ovoo mine in March for the first time after completing the lease agreement with the arms-length private Mongolian company. Prophecy already has approximately 21,000 tonnes of coal production and sales from the mine, which has a maximum production capacity of 2 million tonnes per year. The mine produced more than 500,000 tonnes of coal from 2012 to 2014, which was sold to 28 separate Russian and Mongolian customers including Erdenet Copper Mining Corporation, UB Railway, and Khutul Cement. Prophecy is a Vancouver, British Columbia-headquartered mining company that has projects in the U.S., Mongolia, and Bolivia.

Published Date:2019-03-19