Prophecy’s Mongolian coal mine achieves record production

Prophecy Development (TSX: PCY) reported that its Mongolian Ulaan Ovoo mine achieved a record monthly coal production of 37,800 tonnes in June.

The output record follows the restart of operations after a two-month halt that was the result of a delay in the approval of the mine’s 2019 environmental plan.

Ulaan Ovoo, located in northern Mongolia some 17 kilometres from the Zeltura border to Russia, operates under a lease agreement whereby a private Mongolian company performs mining operations and pays Prophecy $2 for every tonne of coal shipped.

Ulaan Ovoo operation. Photo by Prophecy Development.

According to the Canadian company, the mine features an average strip ratio of 1.8 BCM waste/tonne of coal. The coal mined has yielded 5,000 kcal/kg GCV, less than 1% sulphur and low ash so it can be used for power plants, cement plants and heat boiler applications. 

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