The origin of this pit lies in Gadlys Ironworks and the need for coal and ironstone to keep the works in production. The pit, also known as Victoria Pit, had many shafts, some of which mined coal, others ironstone, and was ideally sited just over 400 yards from the Ironworks. The company also obtained permission in 1834 to mine coal at Graig Pit on the lower slopes of the Graig, which lay a short distance to the south.