Sept 10 - Natural Resource Partners LP (NRP.N), which leases coal reserves to miners, said it will acquire about 200 million tons of coal reserves in Illinois for $255 million in eight separate transactions through 2012.
The company sees revenue of about $12 million in 2010 from the Deer Run mine being acquired from Colt LLC, an affiliate of the Cline Group.
Production from the mine is expected to be about 8 million to 10 million tons per year, the company said, adding that the deal will be accretive to its cash flow in 2010.
Natural Resource said it expects to save $14.7 million due to the waiver of a portion of distributions by the general partner and the holders of the incentive distribution rights, following the closing of the first transaction.
However, Natural Resource said it need not lower the current distribution through the remainder of the year.
Shares of the company closed at $18.72 Thursday on the New York Stock Exchange.
The company sees revenue of about $12 million in 2010 from the Deer Run mine being acquired from Colt LLC, an affiliate of the Cline Group.
Production from the mine is expected to be about 8 million to 10 million tons per year, the company said, adding that the deal will be accretive to its cash flow in 2010.
Natural Resource said it expects to save $14.7 million due to the waiver of a portion of distributions by the general partner and the holders of the incentive distribution rights, following the closing of the first transaction.
However, Natural Resource said it need not lower the current distribution through the remainder of the year.
Shares of the company closed at $18.72 Thursday on the New York Stock Exchange.
