One of Britain’s last remaining coal mine operators will put an end to all mining operations beginning July. Durham-based Hargreaves Services, one of the largest remaining operators of surface mines in the U.K., told investors it plans to wind down its U.K. mining operations in line with its long-term strategic plans.

Hargreaves runs a string of formerly abandoned coal sites across Scotland and continues to supply British power plants and steelworks with coal imports via the ports of Immingham and Newport.

“The company does not intend to mine coal elsewhere as it is clear that coal has a limited future, as is reflected in the government’s policy statement. The group’s focus is on developing Hargreaves Land, its property development business, and on its other businesses in distribution and services,” the spokesman added.

Hargreaves’ decision will lead to a £3.7 million ($4.8 million) financial blow for the firm, including a £1 million ($1.3 million) charge for employment-related liabilities and a £2.7 million ($3.5 million) writedown on its assets.

Around 100 workers at the Scottish mines have been offered potential new opportunities elsewhere in the company and they will be kept informed, said a company spokesman.

Hargreaves said it would continue to distribute its remaining coal stocks to cement works, sugar factories and other specialist industrial coal users, which could take between 18 months to two years to clear entirely.