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Natural Resource Partners L.P. Completes Fifth Acquisition of Coal Reserves at Deer Run Mine in Illinois Basin
Posted February 2, 2012
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HOUSTON -- Natural Resource Partners L.P. (NYSE: NRP)announced today that it has completed the fifth acquisition of coal reserves at the Deer Run mine near Hillsboro, Illinois for $40 million from Colt LLC, an affiliate of the Cline Group. The acquisition was funded with cash. NRP has paid $215 million of the $255 million slated for the acquisition of approximately 200 million tons of reserves. The final acquisition for $40 million will be associated with the completion of the first pass of the longwall, currently scheduled for August 2012.
Company Profile
Natural Resource Partners L.P. is a master limited partnership headquartered in Houston, TX, with its operations headquarters in Huntington, WV. NRP is principally engaged in the business of owning and managing mineral reserve properties. NRP primarily owns coal, aggregate and oil and gas reserves across the United States that generate royalty income for the partnership.
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Natural Resource Partners L.P.
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