How to minify webpack js file in laravel?

Question

webpack

Here is the webpack config

let mix = require('laravel-mix');

mix.react('resources/assets/js/app.js', 'public/js')
   .sass('resources/assets/sass/app.scss', 'public/css');

the source file via npm run production takes about 1 mb,
is it possible to somehow minify the file?
PS: React application