The Pegswood colliery was one of many in the north-east of England. The colliery opened ca. 1872 and was in operation until 1969. Fraser company in the 1880s, in 1947 the National Coal Board took over, following the 1946 Coal Industry Nationalisation Act. Starting in 1914, fire clay began to be produced besides coal. The colliery never had more employees than in 1921, with 857 employed underground
and 182 above. No mining disasters (more than five dead) have happened; an incomplete list of mining deaths lists 54 fatalities. History
The name Pegswood derives from 'Peg's Worth', meaning an enclosure belonging to a man named Pecg. . Pegswood started as a small farming settlement, yet with the discovery of coal and the opening of Pegswood colliery, the village expanded to accommodate miners in 1872. The colliery shut in 1969, however the village is still classed as a pit village. All that is left today are the Pit Heap, now a park, and the entrance to the mine shaft, now in the Bothal Court estate. Coinciding with the coal industry, there was also a brickworks in Pegswood, which has since closed down. Though the original colliery closed, mining was practised until quite recently: as late as 1997, mining company The Banks Groupopened up a 170-acre (0.69 km2) open-pit mine at Pegswood Moor, from which they extracted some 1.4 million tons of coal, with the help of a 236-ton face shovel made by Orenstein & Koppel. Also reaped was 84,000 tons of fire clay, a kind of high temperature resistant clay often found between coal layers. Mining there stopped in 2004, and the pit was converted into the Pegswood Community Park, which includes "a dedicated nature reserve, a new woodland and ponds." The second phase of the park's construction would also "provide a fishing lake, an amphitheatre sculpted out of the landform and a footpath link from Pegswood to Morpeth." Extensive open-pit mining still takes place in the area, but such operations remain controversial even when former sites are restored. Like many other "former pit villages," Pegswood has benefited from increased interest among especially young families, who are attracted to such places for the countryside and the quality of education. Since 1969, when the pit closed, the town has welcomed new development plans and new housing estates have been built in an effort by Pegswood to "reinvent itself as a cheaper rural alternative to Morpeth and Newcastle." More recent renewal efforts include plans for a facelift for its Welfare Centre and a £48,000 garden with the colliery as its theme. Local services are also being improved.