The group hoping to transform Clipstone Colliery into an activity centre including indoor skydiving and Europe's longest zip wire at to make a bid for funding.
The Clipstone Colliery Regeneration Group will apply for Heritage Lottery Funding within the next month to provide a feasibility study.
The Grade II-listed headstocks are owned by the Coal Authority and the land is owned by the Welbeck Estate and the regeneration group hopes to run a zip line between the two 65-metre high towers.
Work began this week to remove trees and rubble from the base of the headstocks after the group petitioned the Coal Authority with the help of CCRG and Historic England
And the group has called their ambitious multi-million pound plans the 'Eden Project of the East Midlands".
It would feature am indoor parkour training hall, climbing centre, tethered parachute drop and a second 100-mph zip-wire running for a mile – which would make it the longest in Europe.
Denise Barraclough, of the Clipstone Colliery Regeneration Group, said: "We are looking at a multi-million pound project that would deliver an international visitor attraction.
"It would be a true regeneration of the site, rather than a lot of housing - which Newark and Sherwood has got targets to deliver, but which would put more pressure on already-strained facilities."