Word is still getting out about Ulaan Ovoo mine re-starting MONGOLIA: Canada’s Prophecy Coal signs multiple coal sales agreements, aims to restart mining at Ulaan Ovoo
by EnergyAsia on September 9, 2013 in Blog, Public Stories
(EnergyAsia, September 9 2013, Monday) — Canada’s Prophecy Coal Corp said it has secured new contracts from several buyers totalling more than 30,000 tonnes per month for coal supply from its Ulaan Ovoo mine in Mongolia.
The Vancouver, British Columbia miner said the buyers include the owners and operators of cement plants, a metallurgical plant, a heat plant, chemical plants and Russian trading companies.
“The off-take quantity and variety of customers reflect the company’s significant efforts to drive higher margin sales while satisfying government power plant needs, which are excluded from the 30,000 tonnes per month forecast. All sales require pre-payment, as has been the company’s practice since January 2013,” said Prophecy, which expects further orders from its 28 customers and new prospects.
It expects to resume operations at the Ulaan Ovoo mine, curtailed since July 2012, by November.
The company said it will fulfill some near-term delivery orders from its existing stockpile with the rest contingent on Ulaan Ovoo’s restart.