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Hunnu buys Rio stake of coking coal project

HUNNU Coal has acquired 70% of the Altai Nuurs coking and thermal coal project in south western Mongolia off a Rio Tinto subsidiary for $A40 million. The project has an exploration target of 250-500 million tonnes.

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Hunnu buys Rio stake of coking coal project

Hunnu has paid $23 million cash on signing the acquisition, while the Rio subsidiary will receive another $17 million in deferred payments. Located in the Gobi Altai province, the project consists...

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