Thai firm buys coal stake

Townsville Bulletin - - Investor -

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.

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