50 people are to lose their jobs at Waihi's open pit Martha mine - because the owner is suspending the operation.

Newmont Waihi Gold announced the suspension because of a slip on the northern wall in early April, which put miners in danger.

This has come in the same month as a $132 million dollar deal from OceanaGold to purchase the whole operation.

Hauraki mayor John Tregidga says he's had it raised with him that it may be more to do with the deal than the slip.

But he says either way its really unfortunate for staff.

"Some of these people are specialist people. Now whether we can keep them within the town, that might be hopeful but my first thing is to see if we can do anything to help them get a job."