NRP grows in West Virginia

NATURAL Resource Partners has acquired 17.5 million tons of high quality, low-vol metallurgical coal reserves in Wyoming and McDowell counties in West Virginia for $US27.2 million.
NRP grows in West Virginia NRP grows in West Virginia NRP grows in West Virginia NRP grows in West Virginia NRP grows in West Virginia

Courtesy Natural Resource Partners.

Angie Tomlinson

The reserves were bought from National Resources, a subsidiary of Bluestone Coal Corporation, and will generate coal royalty revenues of about $750,000 in the 2007 fourth quarter.

Houston-based NRP borrowed $16 million under its credit facility and funded the remaining $11.2 million from cash.

NRP is a master limited partnership that owns and manages coal properties and coal handling and transportation infrastructure in Appalachia, the Illinois Basin and the Powder River Basin.

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