It is called dysprosium and it's set to play a big part in the future of the world. The rare earth is a key ingredient for emerging technologies and is used in magnets for electric vehicles.
It can be found in Western Australia and this week Australia's first ''heavy rare earths mine'' was officially opened at a remote site south-east of Halls Creek, just 6 kilometres from the WA-Northern Territory border.
Known as Browns Range, the $56 million pilot project was officially opened by Western Australian Premier Mark McGowan.
Mr McGowan said the mine was the first of its kind outside China and was a "wonderful opportunity" for the state.
- This is a mineral that's going to play a big part in the world's future. The world is heading towards the direction of electric cars, so projects like this are so important, McGowan said.
Source: Northern Minerals
