Nearly 79 years after the disaster, on June 8, 1996, the Granite Mountain/Speculator Memorial was dedicated, honoring the 168 miners who lost their lives. A rededication ceremony in 2010 introduced new features to the Memorial.

The Memorial itself is an open-air plaza that offers panoramic views and serves as an interpretive site for the events and the impact of the Granite Mountain/Speculator fire. It was made possible through the contributions of multiple entities including local government, the EPA, historic preservation offices, and community donations, including the sale of engraved bricks for the Memorial's maintenance.

These bricks are engraved and installed annually, keeping the memory of the miners alive and underscoring the significance of Butte's mining and labor history.

In 1991, Gerry Walter, a VISTA volunteer at the Butte-Silver Bow Historic Preservation Office, embarked on a research project to uncover the story behind the Granite Mountain/Speculator Mine disaster. Her research led her to various sources including the Butte Archives, where she examined newspapers and the coroner's report from 1917. In addition, she had access to the Montana Tech Library for engineering journals and the Montana Industrial Accident Board Report, and the North Butte Mining Company Records. With the assistance of Al Hooper, she also accessed detailed documents and photographs related to the fire.

Gerry's research revealed the city council's 1917 unanimous decision to erect a memorial for the miners, a plan that was never realized. Motivated by the need to honor the miners' memory, she led the effort to build a memorial, forming an advisory committee for this purpose.