Bethlehem Steel's Grace Mine exploited magnetite ore with an iron content of approximately 40 percent. The magnetite mineralization replaced a large wedge of impure Cambrian limestone already altered to calcium and magnesian silicates by contact metamorphism from a thick, subjacent intrusive sheet of diabase (Sims, 1968, p. 122–123). The deposit was the first instance of an ore discovery resulting from an airborne magnetometer survey. The Grace mine anomaly was identified in 1948, core drilling began in September of 1949 and on December 19, 1949, iron ore was hit at a depth of 1,524 feet. Work started in 1951 with the sinking of "A" shaft to a depth of 2,208 feet, used for hoisting ore and transporting materials. "A" shaft was eventually sunk to depth of "B" shaft, at 3,079 feet, which was used for men and materials.

The Grace Mine closed operations in 1977 due in part to depressed iron/steel prices and the high cost of underground ore extraction. The dumps were later used in road/ramp highway construction. Final reclamation of the property by Morgantowwn Properties began sometime after 2004, for an extensive housing development project.

The project "Bryn Eyre" is a housing project in which an entire town, 12,393 residential homes, commercial, school and public areas will be built on site. Projected to be constructed over a 20-25 year period, it is the largest such project in Pennsylvania since the 1950's. (Ref. R. Robinson, Lanc. New Era, 2007)

Ground breaking began April 1, 2007 (observations: Ms Sophia Shultz).

As of November of 2011, the site has been fenced and tailings crushed and hauled away. Police monitor the property. A sad end to yet another good collecting spot. (David S. Bernstein).

As of 2026, the Bryn Eyre project never came to fruition due to economic conditions. Currently there are several industrial buildings on the site between Bethlehem Drive and Commerce Drive, as can be seen on Google Maps and also confirmed on a personal drive-through (Edward Rosenzweig). Also, ground was broken in December 2025 for the Gateway Commerce Center, a 5 million sq. ft. industrial park on the former mine site. (See https://news.constructconnect.com/ground-broken-at-massive-southern-berks-industrial-park-in-pennsylvania ).

In addition, the site is actually in New Morgan, a new borough created in 1988 (with only 35 residents in 2000!) Morgantown is an unincorporated community in Caernarvon Township, just south of New Morgan.

Other Regions, Features and Areas containing this locality

References