Natural Resource Partners Completes Fourth Acquisition at Deer Run Mine for $70M

Natural Resource Partners L.P. NRP announced today that it has completed the fourth acquisition of coal reserves at the Deer Run mine in Illinois for $70 million from Colt LLC, an affiliate of the Cline Group. The acquisition was funded through NRP's credit facility. NRP has paid $175 million of the $255 million slated for the acquisition of approximately 200 million tons of reserves. Future closings will be associated with the completion of certain milestones relating to the new mine's construction. NRP anticipates completing additional acquisitions totalling $65 million in 2011 and $15 million in 2012.