KEY POINTS Utah purchased US Magnesium’s land, water rights, and mining agreements for $30 million to help restore the shrinking Great Salt Lake. Utah won a $30 million bid for US Magnesium’s land, water rights and mining agreements on Tuesday as part of a wider strategy to refill the shrinking Great Salt Lake. Photo by Jason Olson (Submission date: 07/27/2005) | Jason Olson, Deseret NewsSince 2021, the Great Salt Lake has been at the center of many state policy changes. Water levels at the Great Salt Lake are very low in Magna on Tuesday, Jan. 6, 2026. Ferry’s family has lived on a farm and ranch where the Bear River enters the Great Salt Lake for 125 years.