Media Room

Avocet seeks last-chance opportunities before considering voluntary liquidation

Embattled Avocet Mining has temporarily withdrawn a resolution that was to be put to shareholders at an upcoming general meeting for the proposed voluntary liquidation of the company.

Avocet on Tuesday said it would discuss possible outcomes for the company, including being broken up in an orderly manner and eventually wound up, at its annual general meeting on July 18.

Fading US utility demand for coal to hit Powder River Basin hardest

While the outlook for the US coal industry over the next 12 to 18 months is stable, fading utility demand in the 2020-to-2030 decade will drive the ongoing contraction of the domestic coal industry, presenting a significant challenge for US coal miners.

Last year, utilities consumed about 84% of the US coal industry’s 756-milliontons of production.