The amended planning application after public consultation is for around 500,000 sq ft of light industrial business space to be built on the site near Arley.
This will bring employment back to Daw Mill quickly following the colliery’s closure last year.
Owen Michaelson, chief executive of Harworth Estates, said: “We have responded to the concerns of the local stakeholders by reducing the size of the development by a third by removing distribution units that will reduce movements by heavy goods vehicles to and from the site by more than 70%.
“We want to make best use of Daw Mill’s assets – its railhead and its high power supply – to attract end users that will move goods via the connection to the Nuneaton to Birmingham line.
“We estimate that we can deliver more than 1,000 new jobs, once the site is fully developed, directly replacing the jobs lost when the colliery ceased operating in March 2013.”
Daw Mill was closed by its former owner, UK Coal Operations, in March 2013 following a major fire, bringing to an end 47 years of coal production.
The ownership of Daw Mill was transferred to Harworth following the insolvency of UK Coal Operations in July 2013.