Laxey agreement that it should be kept in perpetual running order for the people of the Isle of Man. In 1965 the Isle of Man Government bought the wheel and the site. Restoration work began, and in 1989 it was put under the control of Manx National Heritage. Great Laxey Mine Railway re-opened with two small steam engines in September 2004 to carry passengers along the restored route. Laxey is the site of King Orry's Grave. The Laxey Woollen Mills were founded in 1881 by Egbert Rydings, supported by John Ruskin, and were originally water powered. The mills are known for
SS Ellan Vannin (1854) to charter the "Ellan Vannin" for the winter months of 1856-57. The rate for the charter was to be £50 per week (equivalent to £ in ) with a further payment of £28 per week (equivalent to £ in ) towards the wages of the crew. The charterer was to be also responsible for the costs of coal, oil and port charges. As terms of this potential charter, the directors had undertaken measures to enable the direct link between Castletown and Liverpool to be maintained. An agreement had been reached with the Ramsey Steam Company who would employ their vessel