NEW plans could see a former colliery site in Torfaen redeveloped after lying derelict for 30 years.
The site, known as the British, at Talywain covers 1,300 acre (526 hectares) and has seen many failed regeneration bids since mining and iron working ceased there.
The proposal would make the brownfield site safe by removing existing hazards including mines and voids, treating contaminated ground and solving drainage problems.
On the 17th July, Torfaen s Cabinet will be asked to allow talks to continue with the Welsh Government and HSBC bank on a joint venture which could secure the reclamation scheme.
Cllr Bob Wellington, leader of Torfaen council, said: "The British is the largest remaining site of industrial dereliction in South East Wales and the inability of the private sector to secure its development has been demonstrated since 2004."
He added: "Our proposal to HSBC demonstrates that an arrangement with the public sector has the potential to give the bank a fair return on its investment and achieve the council s aim to regenerate the area and reclaim the site for the community.