Although the ‘‘care and maintenance’’ closure means the mine could reopen if markets improve it is the third mine this year, after Integra Coal’s Camberwell open-cut and and Glennies Creek underground mines closed at Singleton.

Centennial chief executive David Moult said that about 45 of Newstan’s 148 mineworkers would move to the company’s Myuna colliery.

About seven would be needed to keep the mine on ‘‘care and maintenance’’ and the remainder, almost 100 workers, would be made redundant.

Like other coal companies, Centennial is blaming the strong Australian dollar and low export coal prices for the need to cut jobs.

Centennial had spent the past two years on a cost-cutting exercise and Mr Moult said the closure was ‘‘a difficult decision’’.

“This decision has not been taken lightly, and is essential if Centennial is to sustain its competitiveness and market position,’’ Mr Moult said.

‘‘In the current market Newstan’s losses can no longer be absorbed.’’

A Centennial spokesperson said the workers had been told on Thursday and the mine would remain idle until Monday when work would resume.

The mine would close on August 1 and the redundancies should be finalised by then.

Newstan’s pit facilities are near the Lake Macquarie suburb of Fassifern and mining has taken place there for 125 years.

For many years the mine was dedicated to supplying local power stations but it has also supplied coal for export through the Port of Newcastle.

Newstan only reopened in 2011 after being put on care and maintenance in 2009.

The Newcastle Herald is seeking comment from the mineworkers’ union