Territory Iron says production has stopped at the Frances Creek iron ore mine, and workers will soon have to find another job.

Work at the mine came to an end last week after the closure was mooted in July last year.

The ABC is reporting that only about 20 of the 300-strong workforce is left at the site, and it could be done to nothing in a few weeks.

The closure comes amid an iron ore price currently at its lowest level since 2009.

Frances Creek was the Northern Territory’s last iron ore mine in operation.

Iron is NT is over for now, with fellow firms Sherwin Iron and Western Desert Resources going into voluntary administration last year.