Galmoy Mine will cut its entire workforce over a phased basis during the next three years, with around 36 jobs to go by the end of this year.
Redundancy negotiations between management and workers union SIPTU concluded this morning.
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Galmoy Chief Executive Stefan Masson told RTÉ News the closure is largely due to the fact mining capabilities will be exhausted by 2011.
He said the news would not come as a shock to staff who expected redundancies as part of a wind down process.
SIPTU Kilkenny branch organiser Dennis Hynes said: "There are also a lot of businesses, small businesses, people that have contracts in and out of Galmoy who are going to be affected by this as well."
The workers are set to receive six-and-three-quarters weeks of pay for each year of service, while retraining will also be provided for those being laid off.
(PR/JM)
