A silicaceous asteroid, Mylasi is rich in olivine and pyroxene. The asari colonizing Chalkhos set up habitats on Mylasi mostly to oversee a large-scale project in which smaller asteroids would be flown to Chalkhos. There, the olivine would be recovered and used in sequestering the planet's carbon dioxide. As with many asari projects, this was expected to take decades or centuries before generating an appreciable effect on the planet's climate.
The station here has been bombarded by the Reapers. The effect on the integrity of the asteroid is unknown, but it does not appear to be breaking apart just yet.