On Wednesday, Natural Resource Partners LP announced that it has completed the final acquisition of coal reserves at the Deer Run mine near Hillsboro, Illinois for $40 million from Colt LLC, an affiliate of the Cline Group. The acquisition was funded through the partnership's credit facility. With this final acquisition, NRP has now completed the $255 million acquisition of approximately 200 million tons of reserves related to the Deer Run mine.
The Deer Run mine is capable of producing approximately 7 million to 9 million tons annually once the longwall is at full production. During the first six months of 2012, NRP reported revenue of $2.9 million based on production of approximately 630,000 tons related to the development of the mine.