Natural Resource Partners acquires coal reserves in Illinois basin
Natural Resource Partners has completed its fifth acquisition of coal reserves at the Deer Run mine near Hillsboro in Illinois from Colt, an affiliate of the Cline Group, for $40m.
The company has paid $215m of the $255m slated for the acquisition of about 200 million tons of reserves.
The final acquisition for $40m will be associated with the completion of the first pass of the longwall, currently scheduled for August 2012.
Natural Resource Partners is a master limited partnership and it is mainly engaged in the business of owning and managing mineral reserve properties.
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