Rhodium and iridium: where the world's most expensive metals are found, which cost more than gold.

Rare earth metals are key resources for the production of modern electronics, military equipment, and 'green' energy. Some of them have an extraordinarily high cost, even exceeding gold, but their supplies are limited.

Among these metals, two stand out the most: rhodium and iridium. According to the FXSSI portal, these metals cost over $650 thousand and over $130 thousand per kilogram, respectively.

Where rhodium is mined

Rhodium is considered an extremely rare metal, with an annual global production of only about 30 tons. A large share of rhodium production comes from the Republic of South Africa, particularly from the Merensky Reef and UG2 deposits in the Bushveld Complex. Canada is also an important producer of this metal.

There are some small mining areas in Russia, but due to sanctions and export restrictions, their market share is gradually decreasing.

Where iridium is mined

Iridium, on the other hand, is a byproduct of extracting other metals, such as platinum, palladium, and nickel. More than 70% of the world's production of this metal takes place in the Republic of South Africa. Iridium is also mined in Russia and Canada as a byproduct of extracting other metals.

The USA and Zimbabwe also produce iridium, but in smaller volumes.