Natural Resource has completed the fourth acquisition of coal reserves of nearly 200 million tones at the Deer Run mine from Cline Group’s Colt.
Located in Illinois, US, the Deer Run mine is expected to produce about eight to 10 million tonnes of coal per year with a mine life of above 20 years.
Construction of the new longwall mine is well underway with longwall production expected to commence in early 2012.
The company has paid $175m for the previous three acquisitions of the coal reserves and concluded the fourth acquisition deal by paying $70m.