The iron ore industry was a major economic driver for this area for nearly 100 years. At one time, there were 78 mines in operation in Iron County with the last (Sherwood Mine) closing in 1978. This museum complex, which now has 25 buildings and more than 100 exhibits, was formerly the site of the Caspian Mine.

Opened by the Verona Mining Company, the Caspian Mine shipped 6,623,320 tons of ore between 1903-1937. The headframe, which now serves as a spectacular landmark, stands over a flooded mine shaft that plunges 539 feet deep and is the oldest of its kind still standing in Michigan! All the buildings, except for the engine house, were moved to this site from other places in Iron County.