TROX - Unique Assets: Wyoming's Green River Basin (Ciner Resources Genesis Energy Natural Resource Partners)

• The Green River Basin of Wyoming is home to the world's largest trona deposit, from which soda ash can be produced at very competitive costs.
• Three MLPs - Ciner Resources LP ("Ciner"), Genesis Energy LP and Natural Resource Partners LP - offer investors exposure to this unglamorous but essential industry.
• Ciner, the only pure-play soda ash producer, has seen its unit price plummet in 2020 following distribution cuts and Covid-19 disruptions.
• Ciner's cost-advantaged business should ensure distributions get back on track in the future, but there are risks to be aware of.
• Genesis Energy LP and Natural Resource Partners LP are not soda ash pure-plays: Their prospects will depend to a large extent on other businesses.

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