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Thank you for subscribing!May 23-24: Prophecy Coal will be presenting in the 2nd CoalTrans Mongolia Conference in Ulaanbaatar Mongolia. Company representative will be speaking on May 23rd at 2:00pm. Click here to view upcoming conferences list and detailed schedule.
June 11 at 3pm PST: Prophecy Coal will be holding the Annual General Meeting at our Vancouver headoffice. Please click here to download the Annual General Meeting documents. For office address.
WELCOME TO PROPHECY COAL
Prophecy Coal Corp. (TSX: PCY, OTC-QX: PRPCF, Frankfurt: 1P2) is an internationally diversified thermal coal production company that controls over 1.4 billion tonnes* of open-pittable thermal coal in Mongolia (839 Mt measured, 579 Mt indicated) between 2 distinct deposits. In November 2011, the Mongolian government issued Prophecy an official permit to construct a 600MW power plant at the site of its Chandgana deposit. The company's second project at Ulaan Ovoo, was commissioned for production in November 2010. Prophecy Coal holds 22.5 million shares of Prophecy Platinum (TSX.V: NKL) along with the Okeover Property (copper-molybdenum) and the Titan Vanadium-Titanium-Iron projects in Canada.
WHY INVEST IN MONGOLIA
Mongolia has one of the fastest growing economies in the world, with ongoing expansion projected. As a result, the country’s already significant energy deficit is expected to increase in the coming years. Mongolia also borders China, the world’s largest consumer of coal and a country the IMF predicts will have the world’s largest economy by 2016. With China's economy growing at approximately 10% annually, demand in China for coal and other energy sources is outstripping supply. Unlike Canada, China has little oil or natural gas reserves for electricity generation. As a result, Chinese demand for thermal coal has risen substantially, with imports exceeding 133 million tonnes in 2010, and further growth is expected to continue due to the country’s ever-increasing electricity demand.
Mongolia has vast reserves of high-quality coal, suitable for both domestic use and export to neighbouring China and other high-demand Asian markets. In addition, Prophecy recognizes the increased efficiency of transmitting electricity rather than transporting coal, where possible. Prophecy’s 600MW mine mouth power plant at Chandgana is fully- licensed, with construction expected to commence in 2013. Initially, designed to mitigate Mongolia’s energy deficit, plans include an increase to 4200MW and corresponding expansion of transmission and other infrastructure, in order to enable the country to export electricity to neighbouring China in the future. Mongolia is a growing strategic player in the global coal market and poised to play an important, expanding role in powering Asia’s cities and heavy industries. Read more.
COMPANY UPDATES
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Nov 28, 2011John Lee, CEO of Prophecy Coal, interviewed on CNBC discussing the company's success in obtaining licenses to develop a 600MW power plant in Mongolia.
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Nov 25, 2011
Masa Igata, founder & CEO of Frontier Securities, discusses why he thinks Mongolia is an attractive investment destination as the emerging economy continues to grow at an impressive rate and recommends Prophecy Coal on CNBC Asia
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Jun 14, 2011John Lee, Chairman and CEO of Prophecy Coal Corp., talks about the company's progress in Mongolia during his interview at the Frontier Securities Investment Conference 2011.
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April 12, 2011John Lee, Chairman and CEO of Prophecy Coal Corp., speaks of his company's plans and says its fortunes and Mongolia's are inextricably linked in an interview.
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November 16, 2010
Alisher Ali, CEO of Eurasia Capital, recommends Prophecy Coal in the Mining Mongolia's Riches segment talking about Mongolia's mining boom.
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April 16, 2010Marin Katusa from Casey Research comparing Prophecy Coal to early stage of South Gobi Energy during the BNN's Commodity Focus show.