The settlement is built inside the fertile valley that goes downhill from the area of Mavra Voladia and is run by the waters of Megalo Livadi’s bay. It was built in 1880, when the company “Societe des mines Seriphos-Spiliazeza” moved its headquarters here. At that time there were grocery stores, cobbler stores, bakeries and a chemical laboratory. People from the surrounding islands and specialized miners from Italy lived and worked here along with the locals. During 1900-1914 an elementary school operated, the so-called “Gromanneios School”. The offices of the company were housed at the dominating neoclassical building of the Ziller school, which even though being ruined today, forms a characteristic feature of the settlement. At sunset it is worth walking towards the impressive loading ladder which stands above the bay of Megalo Livadi.
The ore-loading ladders in Koutalas and Megalo Livadi, the Command Post in Megalo Livadi, the tenement houses and other facilities with the saved equipment have been declared as Preservable Monuments by the Ministry of Culture.