Beaconsfield mine collapse survivor Brant Webb says the site's closure will be a "major disappointment" to the local community.
After announcing the mine's closure earlier this week BCD Resources said in a statement processing of all ore would be complete by Monday.
Webb, who now works as business development manager at BLH Solutions, told Australian Mining the mine was a major employer at Beaconsfield and its closure would have significant flow-on effects for the community.
"It's a disappointment for the economic position that the community will be put into, there are a lot of big knock-on effects," he said.
Webb said most of the miners would be leaving Beaconsfield and as well as the stress of relocation on families the town would see a big dent to its population and community atmosphere.
"A lot of the mine workers volunteer for the fire brigade and things like that so we'll lose all our volunteers," he said.
The Beaconsfield mine is synonymous with the underground collapse in 2006 that killed miner Larry Knight, and trapped Webb and Todd Russell; an event that was later turned into a telemovie.
In a statement BCD CEO Peter Thompson said the mine's closure marked a significant turning point for the region.
"The successful closure of the Tasmania mine signals the end of the modern era of mining at Beaconsfield, which recommenced in 1999," he said.
"Although the mine has come to the end of its economically viable life, it was possible for the company to operate at significantly lower costs for the past year, to repay all debt …"
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