Banpu was established in Thailand in 1983 as a coal-mining venture and was listed on the Stock Exchange of Thailand in 1989. In the 1990s the Company diversified into power project development in Thailand, coal mining in Indonesia, port operations and industrial minerals.

Since 2001 Banpu has decided to center its strategy on becoming a leading coal-based energy player in the Asia-Pacific region. The decision was based on where the Company sees its core skills and competitive advantages – as well as where it sees the most growth potential. This decision has led to some non-core divestments (industrial minerals, port business, some non-coal power investments…) as well as further growth in coal – in Indonesia and China.