 McConnel's desire to diversify beyond cotton led him to other industries besides slate quarrying.He owned the Deeside Ironworks at Saltney, was a director of the Amalgamated Denaby Collieres, the Newstead Colliery, Yorkshire Amalgamated Collieries Ltd. and was chairman of the Sheepbridge Coal and Iron Co. and the Tinsley Park Collieries.McConnel continued to control McConnel & Kennedy until his retirement in 1878.