The Martha Gold Mine in Waihi was originally an underground mine which closed in 1952. It was reopened as an open pit mine in 1988, in the centre of Waihi township. The extent of the mine is limited by the residential and commercial areas surrounding it. Currently the pit mine is closed, but underground mining is continuing in Waihi. When the pit mine finally closes the plan is to create a lake for recreational use.
As part of the mining consent the owners of the mine have to provide certain facilities, such as the Pit Rim Walkway which is a 4km long, easy walking track around the perimeter of the mine pit. There are various lookouts and historic remnants from the original mines in the area.