Bowen Coking Coal will place its Bluff Mine near Blackwater into care and maintenance due to subdued pulverised coal injection prices, increased mining costs, and lower-than-expected production.
The mine is set to be transitioned by the end of November.
The decision follows a strategic review, allowing the company to focus on its more profitable Burton Mine Complex.
Bowen will retain infrastructure at the Bluff Mine for potential future reopening when pulverised coal injection coal prices recover.
The company will continue collaboration with key contractors to support affected employees in finding re-deployment opportunities.