Located 25km from Singleton and employs 133 people, the underground mine in the Hunter Valley coal belt of NSW is said to have produced 2.1 million tons of semi-soft coking coal in the year 2013.
Reuters cited Glencore spokesman as saying that due to a combination of lower prices, high production costs, a strong Australian dollar, as well as geological constraints in future mining areas, the company could no longer operate the mine.
Xstrata Coal NSW is managing the mine for the joint venture owners Resource Pacific and Posco.
Throughout the coal sector in Australia, mining companies have been undertaking cost-saving programs in order to offset surging production costs and low coal prices.
Glencore Xstrata said it is shutting the Ravensworth mine on a care and maintenance basis.
