Sinking commenced in February 1893 by the Draycott Colliery Co and the colliery was originaly known as Klondyke, operating as part of the Draycott Cross and Delphouse workings. After various problems and changes of ownership, the pit was bought in December 1906 by Bassano Brothers Ltd, who were Staffordshire ironmasters. In June 1910 New Haden Collieries Ltd was formed to operate the colliery. The two main winding shafts were No.7 Downcast, 12ft 6in diameter and No.8 Upcast, 8ft 6in diameter. Work to remodel the New Haden Colliery at Cheadle commenced in January 1927. The work included widening the No.8 upcast shaft from 8ft in diameter to 14ft and sinking deeper to reach the Woodhead seam. The coal was reached on 5th January 1929 and the final depth of the shaft was 340 yards. A new steel headgear was erected and a winding engine by Markham of Chesterfield installed. This had cylinders 26ins diameter and 5 ft stroke with a winding drum 16ft in diameter. The colliery was plagued by water problems and after attempts to work the Four Feet coal in 1942 led to an greatly increased inflow the pit was abandoned in June 1943. The Markham winder was dismantled and sold for use at a colliery in Hollinwood, Oldham.