The Magpie Mine, just South of Sheldon, was one of the most famous lead mines in the Peak District and is the only one with a significant part of its building still standing, having been taken into the care of the Peak District Mines Historical Society in 1962.

The mine is first recorded in 1795, though the workings are probably much older. It finally ceased operations in 1958, though the working in the 1950s mined little actual lead. The heyday of the mine was in the mid 19th Century.

The proximity of other mines often led to disputes, and the Magpie Mine and the Red Soil mine disputed the working of the Bole Vein on which they both lay. In 1833 this led to the deaths of 3 miners from the Red Soil Mine who were suffocated underground when the Magpie miners lit a fire to try to drive out the men from the opposing mine. Three miners were tried for murder, but acquitted. However, it was said afterwards that the Magpie was cursed and it never really prospered thereafter.