Work has started on a new mixed use development at the derelict Wheal Harmony mine at Redruth.
Wheal Harmony to the west of Treleigh Industrial Estate, will see 10.8 acres of brownfield land made ready for future development.
Part financed with £1.2 million by the European Regional Development Fund Convergence programme, developers say the Wheal Harmony site has "many obstacles to overcome before completion", with "severe mining issues, Japanese Knotweed and contamination" at the site.
Simon Williams, a director of Wheal Harmony Ltd said: "This land has been a challenge, which I think has only been possible by ERDF investment filling the funding gap between our private investment and the eventual cost of reclaiming the land.
"The land is heavily contaminated and has major historic mining works which need to be capped and made safe, but once the work has been completed Redruth will have another asset for business and community to be proud of.’
The employment spaces will be joined by an area of open space, new roads and the provision of land for the development of affordable and open market housing on the site.
Russell Dodge, director of Business Location Services said: "Wheal Harmony builds on the success of the Treleigh Industrial Estate to provide new high quality workspace in the Camborne, Pool, and Redruth area. The site has excellent access to the A30 and other industrial estates in the area such as Cornwall Business Park. However, Wheal Harmony will also have links to North Redruth and Treleigh by improving the pedestrian and cycle ways to the development.
Chris Pomfret, chair of the LEP and deputy chair of the Convergence Local Management Committee, which steers the Convergence programme said: ‘Viewing the vast mine shafts to be capped by Wheal Harmony Ltd led me to understand the challenges of this site. However, I think the eventual outcomes of the site will benefit the area as private and public partnership investment work together to create new opportunities for the local community and Cornish business."