King Edward Mine was once a training school for the Camborne School of Mines used until 1984. The school, now part of the University of Exeter, took over the abandoned eastern part of the South Condurrow Mine around the engine shaft of the same name. This offered the opportunity to work both William's Lode and the Great Flat Lode down to 400 feet from surface. No pumping was necessary as all water in the mine drained into the then working Grenville mine to the south.

Between 1897 and 1906 the mine was almost totally re-equipped based on what was then the best of Cornish mining and milling practice. Engine Shaft and William's Shafts were re-equipped, the underground workings cleared and a number of surface building erected including a complete modern full-scale tin dressing plant, survey office, workshops, and lecture rooms.

The original Count House and change house facilities were retained. The mine was operated semi-commercially and produced tin on a regular basis, employing some 10–20 men in addition to the college teaching staff. Much of the production work was carried out by students. In 1901, it was renamed King Edward Mine.

In the late 1980s a museum was established on the site. Supported by the School of Mines a team of volunteers, mainly drawn from the Carn Brea Mining Society, have spent in excess of 10,000 hours on the project. Much material and equipment has been loaned or donated and the mill has been largely returned to a working condition, substantially as it would have been in the early years of the 20th century.

King Edward Mine is the oldest complete mining site left in Cornwall. Whilst designed for education purposes it demonstrates, on a small scale, all that would have been found on the best Cornish mine at the turn of the century. This has been recognised by English Heritage who have listed the whole site Grade II*.

In mid-2000 the Trevithick Trust leased the "museum/mill" part of the site from the Camborne School of Mines. After major building repairs, funded by a European grant as part of the Mineral Tramways Project, the site was officially opened to the public on 28 April 2002. Today the visitor can see the newly re-collared Engine shaft and a small museum in what was the mill engine room which tells the story of the site, mining techniques and tin dressing, as well as providing an introduction to the human side of the site.

The mine was intensively photographed by the Cornish photographer J.C. Burrow throughout its construction and development period and is certainly the most photographed mine of its size in Cornwall. Many of these photographs are used in the museum displays. A guided tour of the mill is also available. Here can be seen the Californian stamps (erected in 1901) which are the only full size set in existence in the UK and probably in Europe. They are complete and in original condition. Much of the machinery in the mill is demonstrated working.