Prophecy Coal Corporation engages in the acquisition, exploration, and development of thermal coal properties in Mongolia, as well as base and precious metal properties in Canada. The company holds a 100% interest in the Ulaan Ovoo, a producing bituminous thermal coal project, located in... More
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- Monday, March 26, 2012, 11:16 AM Silk Road Management's Alisher Ali tips off Mongolia to be the fastest growing economy in the world this year, with GDP clicking along at a 20% annual growth rate. The untapped potential of the nation is also at the forefront of the heated boardroom battle between Ivanhoe Mines (IVN +0.1%) and Rio Tinto (RIO -0.2%). 1 Comment [Global & FX, Quick Ideas]
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Prophecy Coal Corporation engages in the acquisition, exploration, and development of thermal coal properties in Mongolia, as well as base and precious metal properties in Canada. The company holds a 100% interest in the Ulaan Ovoo, a producing bituminous thermal coal project, located in Mongolia; and a 100% interest in the Chandgana project that consists of 2 coal deposits with power plant plans for its second deposit, located in the northeast part of the Nyalga coal basin in southeast central Mongolia. It controls approximately 1.4 billion tones of open-pittable thermal coal in Mongolia. It also has interests in the Okeover copper-molybdenum project located in the Vancouver mining division of southwestern British Columbia; and the Titan vanadium-titanium-iron project located in eastern Ontario in Canada. The company was formerly known as Prophecy Resource Corporation and changed its name to Prophecy Coal Corporation in June 2011.