It operates over a section of track that was part of the East Coast Main Trunk Railway until the Kaimai Tunnel deviation made it redundant in 1978.

It was not intended to be a mainline, but after extensive surveys and a few false starts, it became part of the East Coast Main Trunk to Tauranga, Te Puke, and ultimately Taneatua in 1928.

[2] The Karangahake Gorge route was closed and dismantled in the 1980s, except for the 6 kilometres between Waihi and Waikino, which the Goldfields Railway saved.

[3] In Waihi, much of the infrastructure of the station and yard remains intact and preserved; although some freight-related structures such as the livestock yards are gone, the goods shed, six railway houses, and small ancillary buildings remain, and the main station buildings are protected and recognised by Heritage New Zealand and the Rail Heritage Trust.

The railway also offers charter services by arrangement and regularly hosts themed rides as fundraisers for local organisations.