Isaac Plains coal mine to shut down, 300 jobs cut

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The Central Queensland town of Moranbah is reeling after the announcement Isaac Plains coal mine is going into care and maintenance, with 300 jobs set to be cut.

Owners of the mine, Sumitomo and Vale, made the announcement last night, blaming the move on “the recent downturn of the international coal market”.

The mine will stop production by the end of January 2015.

The news comes less than a week after BHP Billiton revealed it would cut 700 jobs from across its Central Queensland coal mines.

Moranbah Traders Association president Trehan Stenton has previously said the town will need help from both the state and federal governments to survive.

"Mining companies need to engage with the community to at least work on a plan for the future,” he said.

THE CFMEU is set to meet with Sumitomo and workers later today.