ITV News understands that the owners of the Unity Mine in Neath are filing for administration.
Around 200 people currently work at the site.
Local AM, Gwenda Thomas, told us: "It is extremely regrettable that Unity mine has gone into administration."
I sincerely hope that the administrators can find new owners for the mine, and preserve the miners’ jobs and the future of the apprentices. Welsh Government officials continue to be in discussion with the mine.
More top news
Ron Pitman, 71, will get a "finders fee" for discovering the ring, which is made up of around 81% gold and 9% silver.
The teenager, who cannot be named for legal reasons, appeared in court to plead guilty to perverting the course of justice.
Farmer Gareth Wyn Jones is hoping for a festive online hit with footage of sheepdog Cap rounding up sheep.