Iridium trade
Iridium is a rare transition metal that is highly valued for its durability and resistance to corrosion and oxidation. It is primarily extracted from South African mines, which account for over 50% of the world's production. Iridium has several key applications, including electronics, where it is used in spark plugs, crucibles, and high-performance electrical contacts due to its hardness and conductivity. Its unique properties also make it useful in precision instrument manufacturing and the aerospace industry, whe...
Iridium is a rare transition metal that is highly valued for its durability and resistance to corrosion and oxidation. It is primarily extracted from South African mines, which account for over 50% of the world's production.
Iridium has several key applications, including electronics, where it is used in spark plugs, crucibles, and high-performance electrical contacts due to its hardness and conductivity. Its unique properties also make it useful in precision instrument manufacturing and the aerospace industry, where it is used for components in spacecraft and satellites.
The extraction of iridium requires significant resources and expertise, as it is often found in association with other platinum group metals during nickel and copper mining operations. As a result, the process is capital-intensive and technically challenging, but its high value continues to drive demand and make it an important commodity in global markets.
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Market intelligence
Heraeus Precious Metals GmbH & Co. acquires Canadian recycling firm McCol Metals, expanding its iridium recovery capacity and consolidating operations in St. John's, Newfoundland and Labrador, potentially increasing iridium supply.
The DLA launched its FY 2003 iridium sales program, increasing government procurement of iridium.
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