The closures will mean job losses of 1300 and leave employee-owned Hatfield colliery in South Yorkshire as Britain's last remaining deep pit mine.
The majority of the 2000 people employed by UK Coal will be out of a job within the next 18 months including those that work at the company’s HQ in Doncaster, South Yorkshire.
The embattled firm is hoping to secure a £20million boost from a combination of government and private sector investors.
However, the company will still need to make the closure if it is to stay afloat.
The government will provide a £10m loan towards the £20m cost of closing the mines, with a loss of tax and national insurance contributions to the Treasury of about Â£30m a year.
Unions argue closures will make the UK more dependent on Russian and other foreign-sourced coal, weakening the security of energy supply.