The area is noted for its rich marine biodiversity and contains a large number of species of crustaceans, corals, molluscs, fish and echinoderms.
Resources company Austeel was granted permission to build an iron ore operation in the area in 2003 following environmental approval being given by then minister Judy Edwards.
[10] A contract was awarded to develop the mine to a Chinese state-owned company, China Metallurgical Group Corp, in 2007.
[13] As of 2016[update], the project is owned by Chinese state-owned Hong Kong-based CITIC Limited and according to the company represents "one of China's largest investments into the Australian resources sector".
Nominally aimed at fly-in fly-out travel for company staff, it has drawn criticism from the United Australia Party for its possible strategic uses.