Source: Perth Now                         Date: 12 October, 2011

Both Australia and Thailand have approved Banpu Public Company's acquisition of Hunnu Coal. Australia's Foreign Investment Review Board approved the decision on behalf of Hunnu and the Bank of Thailand for Banpu. Banpu is Thailand's top coal producer.
Hunnu's board allowed a USD 477 million takeover offer from its largest shareholder, Banpu. In March Banpu acquired a stake of about 12 percent in Perth-based Hunnu, four months after Banpu took over Australian coal miner Centennial Coal for more than USD 2 billion.
Hunnu shares increased to USD 1.70 as a result of the deal.
Hunnu Coal was incorporated in Australia for the purpose of acquiring and developing coal projects in Mongolia. Hunnu holds several projects in Mongolia's Gobi Desert, including Tsant Uul near the Oyu Tolgoi copper and gold project.