MONGOLIA - New team at helm of Prophecy
Published: Saturday, 01 December 2012 09:19
There are three new names steering Canadian developer Prophecy Coal to advance its Mongolian projects. Bailiikhuu Dambachultem has been appointed country adviser, Damdindjav Davaajav as a project manager and Bekzod Kasimov as business development manager.
Bailiikhuu Dambachultem has almost 30 years of privatization and deregulation policy experience in Mongolia. He is currently advising the State Property Committee of Mongolia on issues including the development of a policy on the restructuring and privatization of state-owned enterprises, corporate governance, post-privatization restructuring and the development of a regulation policy relating to Mongolia's infrastructure sector. He has also been advising Prophecy on government relations and permitting matters related to the Chandgana power plant project.
Damdindjav Davaajav has been a respected figure in Mongolia's electrical engineering, power distribution and generation industries for the past 20 years. He has previously held the deputy director's position at Newcom Group's energy department where he was responsible for technical supervision, technical proposal development and project management of the Salkhit wind farm 50MW project and the Ulaanbaatar combined heat plant-5 450 MW project.
Damdindjav Davaajav has also worked as a consultant for World Bank and Asian Development Bank's energy projects in Mongolia, and at the Energy Authority and Central Energy System, a government agency of Mongolia, and he was responsible for transmission and distribution network management and load dispatch at Central Electric Power System. He has been a technical adviser to Prophecy's Board, on managing technical aspects of Chandgana's transmission lines.
Prophecy's new business development manager Bekzod Kasimov will be in charge of liaising with strategic investors, financial modelling and broad aspects of the due diligence process. He has previously worked at investment bank Eurasia Capital where he was responsible for providing advice on raising capital to international and local companies in Mongolia.
In other news, Prophecy says it is negotiating with Tethys Mining regarding amending an original agreement to purchase the Tugalgatai coal exploration licences. The sale agreement was postponed last month.
www.prophecycoal.com
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