This paper uses the Fengtien mining site as the case study area to review the history and explore the development issues of the Taiwan nephrite mining industry. Similar to the geological phenomenon of Taiwan nephrite occurring between black schist and serpentinite, the Taiwan nephrite mining industry developed between utilization of the mining heritage and protection of nature. The utilization of the Taiwan nephrite involves philosophical, archeological as well as mining heritage aspects. The issues of nature protection include both national and local levels. The paper aims to provide some strategies for future development of the Taiwan nephrite mining industry through the review of the current issues and the discussion of the mining tourism development and cultural heritage conservation.