Natural Resource Partners L.P. (NRP) Reports Purchase of Properties in United States
Natural Resource Partners L.P. reported the purchase of mineral properties in the Appalachian Basin, which the company believes has significant reserves of materials used in construction activities. Natural Resource Partners L.P. agreed to pay $20.7 million for properties located in Kentucky and Tennessee. The company reported that the two properties have 160 million tons of aggregate reserves. Natural Resource Partners L.P. will fund $14.7 million of the purchase price through a drawdown of the company’s credit line, and the balance of $6 million in mid 2011. The first parcel acquired by Natural Resource Partners L.P. is approximately 508 acres and…