Pilbara Minerals has signed a deal to develop a tantalum project 75 kilometres south east of Port Hedland.
Tantalum is a metal that's used in capacitors in technologies like mobile phones, DVD players and computers.
The agreement is a joint venture between processing specialists Nagrom and Pilbara Minerals.
The mine's called Tabba Tabba and it's far from the first time a company has looked at bringing it into production.
The CEO of Pilbara Minerals John Young says the area has been explored numerous times.
"The project has a long history of exploration from 1996 and from 1986 to 1991 the previous company had completed a feasibility study.
"Essentially the project was drilled out and advanced to the stage where it could be mined."
Mr Young says they are positive the mine will go ahead despite its history.
"The tantalum price at the moment is quite high and it's the right time for the project to move ahead."
The tenement is owned by Australia's largest lithium miner Global Advanced Metals (GAM).
Pilbara Minerals have already secured a deal with GAM to purchase all the mineral from the site.
It's expected production will begin in April 2014.