Natural Resource Partners L.P announced the closing of three acquisitions of aggregates properties in the United States. The company paid $31 million for the three properties, with $21 million paid at closing and $10 million due later in 2010.
The management of Natural Resource Partners L.P indicated that it is still looking for further purchases to add to its reserves. “NRP continues to look for expansion opportunities in the aggregate sector, including construction aggregates, industrial minerals and specialty aggregates,” said Nick Carter, the CEO of Natural Resource Partners L.P.
Natural Resource Partners L.P purchased 100 acres of limestone reserves in White County, Indiana. The company will lease the property to a third party to supply aggregates to areas in Illinois and Indiana.
Natural Resource Partners L.P purchased 1,000 acres in California, with an existing silica sand plant on site. The company plans to expand the plant to process a higher quality product to be sold to industrial mineral companies.
Natural Resource Partners L.P purchased limestone reserves located in Cloverdale, Indiana. The company will construct a grind facility on site to process calcium carbonate limestone.
Natural Resource Partners L.P is a master limited partnership headquartered in Houston, Texas. The company also owns coal reserves and coal infrastructure assets in the United States.