The most valuable metal on Earth revealed and it's not gold

You might think that gold is the most valuable metal in the world. But that's not true!

The most valuable metal on Earth revealed and it's not gold
© Zlataky.cz / UNSPLASH
The most valuable metal on Earth revealed and it's not gold

John Plassard, market expert at Mirabaud, told the AFP news agency that the metal that is more expensive than gold 'looks similar to silver' and 'is very hard and resistant to corrosion.' The expert also explained that 'there are no mines in the true sense' dedicated to this metal as it is, in fact, a byproduct of platinum and/or nickel extraction.

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Have you guessed what it is yet?

We won't keep you guessing for long: the most expensive metal in the world is rhodium, a white, silver-like metal. One ounce (28.3 grams) of the precious metal from the platinum family is worth 785 euros in August 2023. The date is important in that prices for metals change constantly.

More resistant than white gold

But then how come it is so expensive? Rhodium is a precious metal that is highly resistant to the harmful effects of oxygen. Moreover, its melting point, which is the temperature at which a solid becomes liquid, is nearly 2,000 degrees Celsius.

The extremely rare metal was discovered in 1803 by chemist William Hyde Wollaston and extracted from an extract of platinum ore in South America. An incredible discovery that came only a short time after the discovery of another platinum, palladium.

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The use of rhodium

Its insane price also accounts for the fact that rhodium is used in the car industry, especially in the manufacture of catalytic converters. This, in fact, makes it possible to limit the emission of nitrogen oxides.

Rhodium is also used in chemistry or in the composition of jewelry. Most resources are located in South Africa, where between 80% and 85% of global production took place in 2019.

This article has been translated from Gentside DE

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