Contractors who worked for Pike River Coal will receive payments on debts owed by the company by the end of October.
Twenty-nine men died in a series of explosions that began at the West Coast mine on 19 November last year.
Pike River Coal was put into receivership in December and its insurers agreed on a settlement sum of $80 million.
One of the mine's shareholders, New Zealand Oil and Gas, has agreed with the receivers that a maximum of $10.5 million of its share will go towards a voluntary payment to unsecured creditors.
The spokeperson for the Pike River contractors, Peter Haddock, says they are delighted with the outcome.
He says contractors who are owed up to $10,000 will be paid in full and those owed more than $10,000 will receive partial payments.
The recovery of all unsecured creditor payments owed will be dependent on the sale price of the mine - with bidding closing on 21 October this year.