West Mount Magnet had its Aboriginal name reinstated by the Surveyor General in 1972, "Warramboo", meaning campfire camping place.

[3] Surrounding the town are remnants of old gold mining operations, and to the north-east are significant Aboriginal sites being preserved jointly by the local community and the Western Australian Museum.

The company also commenced the Perseverance open pit cutbacks in 2015 at the top of the Hill 50 underground mine, which is 4 km north west of Mount Magnet.

[7] Unusual for such a large mining community, Mount Magnet never had a public battery (a type of mill machine that crushes material).

However, evidence of Mount Magnet's gold-rush heyday can be seen in its very wide main street with three hotels and historic buildings.