The mine’s closure comes after years of declining ore prices, as the world’s second-largest producer of coal, according to the United Nations.
The mine, which was owned by the world-renowned Woodside Mine, closed in 2014 as a result of the mine’s declining profitability.
It is expected to close in 2021.
But the mine is now being managed by a new company, which is working on a plan to revive it, said Scott Beaumont, a spokesman for the state Department of Resources and Energy.
The state is now looking at bringing in more mining equipment, and the company is looking at increasing its workforce.
“There’s some very interesting new ideas on the table, but they have to go through regulatory approval,” Beaumouts said.
There are also plans to reopen the mine to the public.
Baumont said the state will begin testing the new mine’s mining technology, which includes the use of new technology to mine in rock formations.
The state will have to hire a new director of mine operations.
Beaumont declined to comment on whether the mine could reopen within three years.
State officials say that the mine has been profitable for about a decade, but it has not yet been profitable enough to make a profit.
The company has had trouble making a profit in recent years, and many of the workers have been laid off.
Woodgate’s closure means that the state of California will no longer be able to pay for the costs of maintaining the mine, said Andrew Crouch, a former chief executive of the California Mining Association who has advocated for more mining investment.
“It’s going to be very hard for the miners and the operators to continue to pay off their debts,” Crouch said.
“They will have a hard time making the payments.”
More from The Washington Times: The West Coast gold rush: In the 1970s, a massive influx of gold miners flooded the West Coast, displacing native workers and forcing ranchers to flee.
Today, the West has some of the best mining in the world.
That was the conclusion of a recent study published in the journal Science.
The study analyzed data from the mining industry from 1973 to 2013, when a massive boom in gold mining and mining-related industries took place.
The region experienced an average increase in mining productivity of 12 percent annually from 1973 through 2013.
The average annual return on investment from mining and related industries, which include oil and gas, steel, chemicals, and mining equipment and services, averaged 17 percent, or $8.6 billion, the study found.
The mining industry was the fastest-growing sector in California in 2013, growing at an average rate of 13.6 percent annually, or about $8 billion.