Workers at Solid Energy's troubled Huntly East coal mine have been told they have no jobs from tomorrow.
Staff met with management this morning and were told the mine was immediately shutting down with all 68 employees being made redundant.
Union organiser Ray Urquhart said 20-odd workers have been offered fixed-term contracts to close the mine down.
The mine recently lost a contract to supply coal to Genesis Energy's Huntly Power Station.
Owner Solid Energy earlier in the month called the mine "deeply unprofitable" and unsellable.
Solid Energy owes $320 million to 1500 creditors and last month the creditors approved a plan to sell off the company's assets over two-and-a-half-years.
The mine has been open for about 38 years and its closure ends 140 years of coal mining in the area.