Oxford boasts a diverse asset base with eight mining complexes comprised of 17 individual mines strategically located in close proximity to customers in a six-state region. Those mines can draw upon an estimated 92 million ton reserve base in eastern Ohio and western Kentucky. The western Kentucky surface mines and reserves, mostly in Muhlenberg County, were acquired from Phoenix Coal in September 2009. Currently, Oxford is producing at the rate of about 8 million tons annually.
In mid-September, Oxford signed a long-term contract to supply an undisclosed amount of high-sulfur coal to Big Rivers Electric Corp., a Henderson, Ky.-based generation and transmission co-op. Neither Oxford nor Big Rivers disclosed financial terms of the agreement, which covers deliveries through 2015. Oxford has supplied Big Rivers since early 2010.
Oxford, which trades under the symbol OXF on the NYSE, is seeking approval in Ohio for the new Otsego surface mine in Guernsey and Muskingum counties. Otsego would produce high-sulfur coal from the No. 6 seam.