Originally, the ironstone mining was blamed, but modern investigations had concluded that extreme weather events were the cause.

It had been recognised that the proximity of the mine to the Great Ayton railway branch line, should have made it easy to export the ironstone, however, the tramway connection was not finished until early 1880.

[5][6] Like the Warren Moor Mine across the valley near Kildale, the iron content at Roseberry was only 26–28%, in a seam that was 5 feet 5 inches (1.65 m) thick.

This was put down to the closure of tin mines in the south west and the loss of agricultural jobs in East Anglia.

[13][14] Between 1907 and closure in 1924, the output of the mine (and that of Ayton Banks), was used in the Lackenby smelters of the Tees Furnace Company.

[17] Mining ceased in 1924, but a small team was retained at the site to undertake "routine maintenance".