Natural Resource Inks $255M Deal For Coal Reserves

Law360, New York (September 11, 2009, 3:32 PM EDT) -- Natural Resource Partners LP, which owns and manages mineral reserves across the U.S., has said it signed an agreement to acquire 200 million tons of coal reserves in Illinois for $255 million.

The reserves were purchased from Colt LLC, an affiliate of the Cline Group, Natural Resource Partners said. The company has already paid $10 million to acquire 3.3 million tons of coal, and future closings in 2010, 2011 and 2012 will occur as the Deer Run mine nears completion, it said.

The mine, located in...
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