This limits the dangers of operating in old workings, he said, and creates a boundary between the old and new collieries.

BBC: Gleision Colliery near Cilybebyll: Brief history

The Canadian-owned company, which has a number of US investors, will focus on pumping out shallow old workings in the Dolcoath area.

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Surviving remains at the Loftus site include quays and rutways for wagons, which ran between the foreshore and boats, are still visible at low tide below the old workings.

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However, the shop closed in April 1998 when the building began to collapse because of old mine workings.

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The work, which will involve drilling and grouting old mine workings and strengthening slopes and the river banks, will take four years, the council said.

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Mine rescue teams confirmed that the four miners at Gleision Colliery were trapped by water after they broke into an area of old mine workings.

BBC: Gleision Colliery near Cilybebyll: Brief history

The Mines Rescue Team leader Andrew Watson said no contact has yet been made with the miners, who were trapped by water after they broke into an area of old mine workings.

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The feds have broadened a year-old investigation into the inner workings of Wall Street, announcing four more arrests Thursday for allegedly fraudulent stock-lending schemes.

FORBES: Feds Go After Stock Loan Scammers