The life-sized bronze statue of a pit horse, skip and wheeler, created by Dubbo artist Brett Garling, was installed in Col Brown Rotary Park.

The idea for the project began in 2015, when Kurri Kurri locals Col Andrews and Tom Outram started a petition for a statue to honour the memory of the pit horses that worked in the underground mines between 1861 and the 1950s.

Towns With Heart quickly came on board to support the idea, and a grassroots fundraising campaign got underway.

Over the next four years, a tireless committee of volunteers raised funds via raffles, barbecues and country music concerts. A range of sponsors, including the Mineworkers Trust (which donated $50,000), also contributed to the project.

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The two-tonne statue was transported by crane truck and took about four hours to be installed.

Committee members were on hand to witness the occasion and while they were excited, it was also poignant, as Mr Outram sadly passed away in May this year, aged 96.

While he will not get to see the finished product, his memory will live on through the statue too - the wheeler depicted in the sculpture is based on Mr Outram, who worked at Richmond Main Colliery for many years.

Mr Andrews said he was "elated" their idea had finally become a reality.

"It's unbelievable - we've waited and waited for this," he said.

Mr Garling was commissioned to create the statue in 2018, and it was on track to be completed by mid-2020, until the COVID-19 pandemic resulted in material shortages and price hikes in Australia.

"It has been ridiculous... foundries around Australia are really struggling," he said.

"This is the longest project I've had in my foundry.

"So to see it in place (in Kurri Kurri), you don't know what sort of relief that is to me."

Mr Garling said he was proud to have been involved in a project that pays tribute to the history of Kurri Kurri.

"I have a passion for Australiana, and nostalgic things like this are disappearing in this country," he said.

"This is like a museum display, not just a piece of art.

"And it's always nice to play a part in something that is significant to the town. Mining is what the town was built on."

The park itself is undergoing a major upgrade, including the construction of a sandstone amphitheatre which will be used for community events.

An official unveiling of the pit horse statue will be held on December 11.