MFDS operates an active coal mining operation in Magoffin County, Kentucky, with annual production in excess of 165,000 tons in 2013. MXP is seeking to use its technology to transform energy trapped in otherwise wasted natural resources, such as the coal fine impoundments acquired by the company, into superior transportation fuels and fuel additives.
MXP has secured a long-term contract with Tenaska BioFuels LLC to purchase its entire production output for distribution to the consumer marketplace. The coal refuse reserves, known as the Dotson Fork Impoundment, is the byproduct of the previous coal mining operations of Chisholm Coal Co., and contains more than 1.9 million tons of recoverable coal reserves, providing an estimated 50-year feedstock for the MXP proposed plant.
