Hundreds of ex-miners will gather in an old pit village to mark the death of Baroness Thatcher as well as the end of mining in the town.
The event will take place at a club in Easington Colliery, County Durham to mark the 20th anniversary of the pit's closure.
Durham Miners Association (DMA) general secretary David Hopper said that at a meeting in the last days of the North East coal industry, a unanimous agreement was made to hold the celebration.
He said: "It's the end of an era for the person who destroyed our coal mines.
"We are recognising that the perpetrator of all this evil has gone and thankfully she will not be coming back."
But this week the DMA distanced itself from accusations it is holding a death party by saying the event had been organised four weeks before Lady Thatcher died.
DMA secretary Alan Cummings told the Sunderland Echo: "It's a day for the lads and some of their families to get together and look back over the time they worked at the pit. Anything else that might be happening that day is purely coincidental."