Thai firm buys coal stake
THAI energy company Banpu Minerals has made a second foray into the Australian resources sector by becoming the biggest stakeholder in Hunnu Coal Ltd. Shares in Mongoliafocused Hunnu added 14 cents, or 11.29 per cent, to close at $ 1.38 yesterday. The move comes after Banpu took over Australian firm Centennial Coal Company Ltd in October in a $ 2.4 billion deal. Hunnu managing director George Tumur yesterday said Banpu’s involvement would help it become Mongolia’s premier coal company. Banpu would now get access to deposits close to China.