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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): APRIL 10, 2003 (APRIL 9, 2003)
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NATURAL RESOURCE PARTNERS L.P.
(Exact name of registrant as specified in its charter)
DELAWARE 001-31465 35-2164875
(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation or organization) Number) Identification No.)
601 JEFFERSON, SUITE 3600
HOUSTON, TEXAS 77002
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (713) 751-7507
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
The Company announced today that two of its subsidiaries, CSTL LLC and
WBRD LLC, completed the acquisition of more than 290,000 mineral acres
containing over 300 million tons of coal reserves from two subsidiaries of Alpha
Natural Resources, LLC, effective April 1, 2003. All of the reserves are located
in Virginia. Prior to the acquisition, subsidiaries of Alpha Natural Resources
and third parties operated mines on the property. The Company will lease all of
the reserves to subsidiaries of Alpha Natural Resources and third parties and
will not conduct mining operations on the reserves.
The Company paid $53.625 million in cash for the reserves, based upon
its estimate of future cash flows relating to the reserves. The funds used to
complete the acquisition were borrowed under the Company's revolving credit
facility with PNC Bank, National Association; Branch Banking and Trust Company;
Bank of Montreal; BNP Paribas; The Huntington National Bank; Southwest Bank of
Texas; Citibank, N.A. and Wachovia, National Association. None of the Company,
its affiliates, its directors or officers or their associates has a material
relationship with Alpha Natural Resources.
The Company has filed the press release announcing the completion of
the acquisition as Exhibit 99.1 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit No. Description
99.1 Press release issued April 10, 2003
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
NATURAL RESOURCE PARTNERS L.P.
(Registrant)
By: NRP (GP) LP
its General Partner
By: GP Natural Resource Partners LLC
its General Partner
/s/ Charles H. Kerr
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Charles H. Kerr
Secretary
Dated: April 10, 2003
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press release issued April 10, 2003