 In 1804, the Earl of Moira had the furnace constructed to take advantage of the iron ore and abundant coal which were present underground in the surrounding Ashby Woulds area owned by him.The location was chosen for its proximity to the Ashby Canal for transport, and the lie of the land which allowed the furnace to be built low down so the raw materials did not need raising very high.However, this was a period of development in blast furnace design and some of the features of Moira Furnace do not appear to have been successful.