It's an interesting structure! The presence of Iron pyrites in the mine could produce sulphur dioxide, but hydrogen sulphide is much more common (and dangerous). It is possible the water contains dissolved calcium salts which could react with sulphur dioxide to produce gypsum (calcium sulphate) which is insoluble in water and so would accumulate and could build such a structure. The colour is probably due to traces of iron.
I have seem something similar in Garreg Boeth mine, the structure looked like a mini-volcano and was just under the water surface. The mine water was rich in calcium salts and I think dripping water & periodic dry spells when the water pool started to evaporate resulted in a sort of gour pool formation, but perfectly circular.
Dave