The Waterschei colliery was one of the seven pits of the Kempen coalfield. Coal was first mined there in 1924 on seams at 560,647, 700, 807, 920, 980 and 1040 m depth. Employment peaked in 1949 at 6834 mine workers. The best production figures were achieved in 1968 with 1,490,700 tons.
Lifetime production totalled 72,453,000 tons. The pit was closed on 10 September 1987.
Thor Central, the monumental main building of the former pit, was opened in mid-2017 as the beating heart of the site: a central venue with auditorium, hospitality, child daycare, meeting rooms, etc.