Company disinvesting from economical working pit (8)

I believe the answer is:

coalmine

'pit' is the definition.

'company disinvesting from economical working' is the wordplay.
'company' becomes 'co' (abbreviation).
'disinvesting from' suggests deleting specific letters.
'working' indicates anagramming the letters.
'economical' with 'co' removed is 'enomical'.
'enomical' anagrammed gives 'COALMINE'.

(Another definition for coalmine that I've seen is " Colliery".)

I've seen this clue in The Independent.

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