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Thai miner Banpu divesting coal business despite revenue surge

Windfall from global coal price rise will be invested in green power projects

Thai miner Banpu has started operations at a solar farm in HaTinh, Vietnam as it begins to unwind its coal business. (Photos courtesy of Banpu)

BANGKOK -- Banpu, Southeast Asia's biggest coal mining company, said it will continue with the planned divestment of its coal business despite the surge in the global coal price that has pushed up revenues, and use the extra income to accelerate green power projects.

"This year, our coal sales will remain the same as last year at around 43-45 million tons," Banpu Chief Executive Somruedee Chaimongkol told Nikkei Asia. She did not give details about additional coal revenue, however, saying only: "The rise in income will be in line with the rise in the global coal price."

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