The New Markham Vale Loop Road has been completed and opens up the former Markham coal field areas to development, linking the town to a new junction (29A) on the M1 motorway, this junction opened in early July 2008. This is part funded by European Union regeneration money. The scheme also reinstates part of the former Chesterfield Canal which crosses the route. There is a long term project to reinstate the canal from Chesterfield to Kiveton where it currently terminates. Sections from Chesterfield to Brimington were reinstated as part of previous stages of the Chesterfield Bypass and opencast schemes on part of the former Staveley Coal and Iron Company site which was part of British Steel Corporation following Nationalisation. The new Staveley Town Basin was officially opened on 30 June 2012 and forms the centre piece of the imaginative redevelopment of the Chesterfield Canal in Staveley. The basin is designed to provide facilities to enable the economic development of the isolated section in advance of full restoration. It will provide secure short- and long-term moorings, slipway, car parking, cycle racks, toilets and showers as well as a large open play area which can also be used for major waterway events and festivals.