Redundancies are being finalised at New Gold’s Peak mine in Cobar with 47 workers being laid off in the coming weeks.
An additional 12 positions were made redundant as the miner moves to reduce production costs by cutting jobs.
Higgins explained a number of workers taking up the offer were close to retirement age.
"Over 35 people there was quite a variety but there was a few people that were nearing retirement so those people with the voluntary redundancies took that opportunity," he said.
The miner is now looking to implement a number of employee suggestions to cut costs further.
Peak is reviewing suggestions after receiving over 100 ideas to cut costs and 70 concepts to boost productivity.
"It's been very exciting, we've had a good positive response, people really want to see this organisation succeed.
"We had some very good suggestions from small things such as how we book out the store to larger contracts, there's a big range."