The colliery, also known as Julian Pit, was owned by the Balfour and Balgonie Estates, who later became the Balgonie Colliery Company. The shafts were sunk in 1883 with No 1 shaft reaching a depth of 160 yards and No 2 shaft 130 yards. The colliery worked the Lower Dysart, Dysart Main, Coal More, and Diamond Seams.
In 1948, output under the National Coal Board, an output of 470 tons per day, was achieved with 445 employees. The NCB reorganised the colliery in 1954. The colliery closed in 1960.
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