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.
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.