International Resource Partners LP
International Resource Partners LP (IRP) is the owner of International Resources, LLC, which produced approximately 2.1 million tons of metallurgical and steam coal from its surface and underground mines in southern West Virginia and sold approximately 5.0 million tons of coal to domestic and international customers in 2006. International Resources, LLC owns and operates Hampden Coal, a coal washing and preparation plant; three rail load-out facilities; and Logan and Kanawha, a leading international coal sales and marketing company.
IRP was formed by the purchase in 2007 of International Resources, LLC, the Central Appalachian coal subsidiary of International Industries, a conglomerate founded in 1947 by coal and timber baron James H. "Buck" Harless.[1]
The management of IRP is led by Gary White and includes James H. "Buck" Harless, Joe Czul and Ray McKinney.
Lightfoot Capital Partners is the leading owner of IRP. Initial limited partners of IRP included Lightfoot Capital Partners, LP (35% limited partnership interest), International Industries, Inc. (25% limited partnership interest), Kayne Anderson Energy Development Company (28% limited partnership interest), and Tortoise Capital Resources Corporation (9% limited partnership interest).[1][2][3] International Resource Partners GP LLC, the general partner of IRP, is a wholly-owned subsidiary of Lightfoot Capital Partners, LP.
In May 2007, CNN reported that two companies, International Resources Inc. and the Kanawha Eagle mine have a contract to supply a combined 40,000 tons of coal to the Capitol Power Plant in Washington, D.C., over the next two years. Senators from coal mining states blocked a proposal in 2000 to use cleaner fuel for the plant. Senators Mitch McConnell (Republican, Kentucky) and Robert Byrd (Democrat, West Virginia), both from coal mining states, used their influence as two of the Senate's most senior members to block this proposal. The companies have given a combined $26,300 to the McConnell and Byrd campaigns for the 2006 election. [4]
Resources
References
- ↑ 1.0 1.1 Lightfoot Capital Partners, LP Announces the Acquisition ofInternational Resources, LLC, press release, June 12, 2007
- ↑ Tortoise Capital Advisors fact sheets, accessed December 2008
- ↑ "Kayne Anderson Energy Development Company, Lightfoot Capital Partners, LP and Tortoise Capital Resources Corporation announce formation of International Resource Partners LP," press release, June 12, 2007
- ↑ Jim Spellman and Andrea Koppel, "Effort to 'green' U.S. Capitol complicated by coal," CNN.com, May 11, 2007
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