Miners at CBH Resources' Rasp Mine in Broken Hill have been told their fate after eight months of uncertainty.

The mine has been bought by the newly formed Broken Hill Mine Limited company, saving the 120 workers employed to extract zinc, lead and silver.

There were fears in November last year that the main industry employing residents was at a crossroads as 49 CBH Rasp Mine workers accepted redundancies.

The mine would enter a staged shut down as Japanese parent company Toho Zinc sought a buyer, with a full shut down scheduled for later this year.

Workers were told on Friday that the mine had been bought by the newly formed Broken Hill Mines Limited (BHM).

They were told BHM would acquire 100 per cent of the RASP mine by October 31.

In a statement, CBH Resources said the workforce would be maintained.

Rasp Mine general manager Giogio Dall'Armi told the ABC workers were pleased to hear the news.

"At our briefings, the response from our workers was positive and one of relief that the future is now a little clearer for them," he said.

He also recognised the ongoing uncertainty for workers. 

"Over the past eight months our workforce has remained committed and supportive," he said.

Australian buyers BHM's Australian Securities and Investments Commission information said it was located in Melbourne, having been listed for the first time in May.

CBH Resources said the company was "focused on the development and operation of silver, lead [and] zinc assets in the Broken Hill region".

Relief for residents

NSW Mine Workers' Alliance union organiser Todd Ferguson said the news was welcomed by the 40 union members working at the mine.

"It means Broken Hill people have jobs, which is a good thing for the community," he said.

Mr Ferguson said miners who would have lost their jobs may have needed to look at leaving town or taking up fly-in, fly-out jobs.

"It's good that this new company has recognised the commodity is still here in Broken Hill and one of the most valuable commodities is the Broken Hill worker, so they're going to roll on, keep them employed and the mine stays open," he said.