The facility is also expected to process vanadium, which US officials say will help secure critical-mineral supplies outside China. Watson said that if the venture succeeds, one of its most important contributions could be foreign exchange rather than direct employment. “These highly industrialised, sophisticated complexes, they are not great generators of employment,” Watson said, questioning whether employment expectations could prove exaggerated. Instead, he said the foreign exchange generated could have a wider multiplier effect across the economy, helping businesses that require foreign currency to import goods and sustain employment. He noted that steel production had previously failed at Point Lisas, with the ArcelorMittal operation closing in 2016.