Nearly $210 million will be paid out for the blast at the Upper Big Branch mine in West Virginia, which killed 29 men in 2010 - the largest settlement in a U.S. coal mining disaster.
Federal regulators say a series of basic safety regulation failures on the part of the mine's former owner, Massey Energy, caused the deadly explosion. They claim the accident was entirely preventable.
Despite the settlement, some family members still plan to pursue the case in court. Many of them want the coal company's managers and executives to serve prison sentences for trying to cover up the mine's life-threatening safety problems.
"I have no intention of settling with these people who have killed my son," said Patty Quarles, whose son Gary Wayne was among the 29 miners killed in the blast.
"They need to be put in jail," she said.
No criminal charges were announced.