Also known as Wheal George and St Ives East Consols, was situated above the Stennack Valley on its northern side and was engaged in the production of copper and tin. By 1860, the mine was operating under the name St Ives East Consols, although there are no available records detailing its production output.

In 1838, during an inspection of Wheal Ayr, Captain Charles Thomas discovered that water had migrated from the mine’s shallow adit to its deep adit, disrupting the water supply to St Ia’s Well. This led to the abandonment of the mine by the miners, and Thomas intervened to redirect the water back to its original course. In 1844, following the modernization of St Ives’ water supply, Wheal Ayr was able to resume operations.

However, Wheal Ayr was associated with more recent challenges. In 2004, the houses at Wheal Ayr Terrace had to be demolished due to subsidence caused by the mine. Subsequent stabilization efforts were undertaken, and the houses were rebuilt, allowing the residents to return to their new homes.