The current landscape around the village is entirely rural; the local economy is mostly based on farming (dairy, cattle and sheep) and tourism (bed and breakfasts and rented cottages). Of more interest and of historical importance is the slate quarrying industry. There is a seam of green slate running roughly east–west along the Taf Valley. This slate is of volcanic ash origin and of Ordovician date. The slate is generally of a greenish-grey or light blue colour. This slate was often used, in addition to roofing, for covering exposed walls to keep out moisture. Until the 1970s, the outer walls of Llangolman Farm were covered in hanging slates.