Although we can not go through the portal we are able to throw certain items in to get new items, this works just like the Mana Pool but instead of normal items such as iron and Ender Pearls you will throw in Mana infused items.
Throwing in 2 Mana Steel Ingots will get you 1 Elementium Ingot, these can be turned into Blocks as well as Nuggets.
Throwing in 1 Mana Diamond will give you 1 Dragonstone.
Throwing in 1 Mana Pearl will give you 1 Pixie Dust.
Throwing in 1 Living Wood will give you 1 Dream Wood, this can be crafted into sticks.
Throwing in 1 Mana Glass will give you one Alfglass. This glass glows and can be broken and reused.