Monday, May 23, 2011

Hunnu Coal [ASX: HUN] - Major Coking Coal Project Acquisition

Hunnu Coal (ASX: HUN) has acquired, through its subsidiary Hunnu Investments Pte Ltd, Rio Tinto Minerals Development Limited’s subsidiary that has a controlling interest in the Altai Nuurs Coking Coal JV Project through:
* 70% of RioAD LLC, holder of 2 licences in the Gobi Altai.
* 70% of Rio Gobi LLC, holder of 8 licences in the Gobi Altai.

The Altai Nuurs Project comprises six exploration licenses totalling 46,212ha and four mining licenses totalling 202ha with an Exploration Target of between 250Mt and 500Mt.

Preliminary test work indicate the coking coal parameters compare favourably with similar coking coal projects elsewhere in the world.

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