The company refuses to name the partner, saying only that it is “one of the world’s largest power-generation groups with installed capacity of more than 100 gigawatts and annual power generation of more than 450,000 gigawatt hours”

The non-binding MoU sets out the proposed terms of the co-operation and the timeline of implementation of a transaction between Prophecy and the strategic partner.

Prophecy has plans for a 600 megawatt mine mouth power plant adjacent to its Chandgana coal deposit.

That deposit is expected to supply 3.5 million tonnes of coal per annum to Prophecy Power for 25 years.

The power plant has been permitted by the Mongolian government.