Cryptocurrency Q&A
Why is iridium so expensive?
Why is iridium so expensive?
Eleonora
Sat Jun 29 2024
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6 answers
1422
Inquiring minds often want to know: why is iridium, a rare transition metal found in minute quantities in the Earth's crust, so exorbitantly priced? Its high cost is attributed to a combination of factors. Firstly, the scarcity of iridium itself makes it a precious commodity. Secondly, the complexity of the extraction process adds to its value, as the metal is often embedded in other minerals and requires specialized techniques to separate. Additionally, iridium's unique physical properties, such as its extreme hardness and resistance to corrosion, make it indispensable in high-end applications like aerospace engineering and nuclear reactors, further driving up demand and prices. These converging factors contribute to the high cost of iridium, making it a valuable asset in today's market.
6 answers
GangnamGlamour
Mon Jul 01 2024
Of late, Iridium has garnered significant attention from the technology industry, leading to a notable surge in its demand.
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Valentina
Mon Jul 01 2024
This surge in demand has subsequently translated into a sharp increase in the price of Iridium on the global market.
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Sara
Mon Jul 01 2024
Iridium extraction primarily arises as a secondary process during the mining of other metallic minerals.
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Silvia
Mon Jul 01 2024
Iridium's rarity adds to its appeal, making it a sought-after commodity for various applications.
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Enrico
Mon Jul 01 2024
The element finds extensive industrial usage, particularly in the aviation sector where its unique properties are highly valued.
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