Natural Resource Acquires US Coal Reserves for $70m

17 January 2011 (Last Updated January 17th, 2011 18:30)

Natural Resource has completed a fourth acquisition of coal reserves of nearly 200 million tons at the Deer Run mine from Colt, an affiliate of Cline Group. Located in Illinois, US, the mine is expected to produce about eight to ten million tons of coal a year with a mine life of more th

Natural Resource has completed a fourth acquisition of coal reserves of nearly 200 million tons at the Deer Run mine from Colt, an affiliate of Cline Group.

Located in Illinois, US, the mine is expected to produce about eight to ten million tons of coal a year with a mine life of more than 20 years.

Construction of the mine is underway with longwall production expected to begin in early 2012.

The company paid $175m for the previous three acquisitions of the coal reserves and concluded the fourth acquisition by paying $70m.