The mine boasts one of the largest mining shafts in Africa. More than 2 million tons of ore are mined every year and hauled by train to Mittal's iron and steel works. The railway line from Rustenburg reached the area in the 1930s and full scale iron and steel production began. The town was proclaimed in 1953. Kumba Iron Ore, previously Kumba Resources, is now the principal operator of the iron ore mine.

The Marakele National Park about 20 km north-east of the town and situated in the heart of Waterberg Mountains characterised by contrasting mountain landscapes, hills and valleys, as well a variety of wildlife. Marakele National Park is also the home of some of the Tuli Elephants that were caught up in controversy in 1999 involving animal cruelty in South Africa.

The Marakele National Park about 20km north-east of the town and situated in the heart of the magnificent Waterberg Mountains characterised by contrasting majestic mountain landscapes, hills and valleys, as well as an impressive variety of wildlife. Climate varies from very hot during summer months to moderate during the winter. Thabazimbi is one of the country’s most sought after destinations for lovers of hiking. Many nature trails, hikes and paths cover the town’s scenic bushveld surroundings. There is a great variety of holiday and tourist accommodation available, ranging from B&B accommodation to lodges, chalets, guest houses and backpackers