In total, the project is expected to produce roughly 4,000 metric tons of rare earth oxides each year. The mine was acquired by Australian rare earth miner Harena Resources in 2025. China produces roughly 60% of the world's mined rare earths, as well as 94% of global permanent rare earth magnets. At the tail end of his first term in 2020, President Donald Trump declared a national emergency over domestic rare earth production. In his second term, Trump announced plans to invest nearly $12 billion to form a strategic reserve of rare earth minerals, and issued loans to U.S. rare earth mine operators to upgrade facilities and boost production capacity.