The owners of Sago Mine say they will shut down the troubled West Virginia coal mine, site of the mining tragedy that killed 12 workers last year. Although Sago Mine had been dogged by numerous charges of safety violations, International Coal Group, Inc., says it is idling the mine because of high costs and low coal prices. Since the mining disaster last year, Sago Mine has seen a steady decline, with only 44 miners working there by the end of last year. ICG says it may reopen the mine if coal prices rebound and that miners will be offered jobs at other company sites. THE BLOTTER RECOMMENDS Primetime Video Deaths in a Coal Mine: Owner Speaks to Brian Ross Blotter Families Accuse Sago Mine Owner of Being a Scrooge Click Here to Check Out the Latest Brian Ross Slideshows Phil Smith of the United Mine Workers of America said ICG’s decision was not surprising given the economic realities of the coal industry. The UMWA had recently issued a report disputing conclusions reached by state and company investigators that lightning caused the explosion that led to the tragedy. The UMWA investigation blamed the blast on "frictional activity from the mine roof" and stated that a lack of necessary safeguards contributed to the deaths. Click Here for Full Blotter Coverage. Families of the men killed in the accident have sued ICG and its billionaire founder Wilbur Ross, alleging the company failed to keep the mine safe. In an interview with ABC News, Ross said he was aware of reported safety violations but added, "We were comfortable based on the assurances from our management that they felt that it was a safe situation." Ross, reported by Forbes Magazine to be one of the 400 richest Americans, pledged to provide financial assistance to the families and made an initial contribution of $2 million to the Sago Mine Fund. Fund records, however, show that as of late January this year Ross has contributed under $950 thousand in additional funds. According to Dennis O’Dell, Safety Director of the United Mine Workers, "Ross had said he was going to donate so much money to help the families get back on their feet, but he hasn’t really fulfilled his promises."