The impact of the economy on a nation is based on various activities, but none as sustainable as the source of income from minerals that can be exported thanks to the longest mountain range in the world. Today, South America offers multiple geological advantages, and as a result, a particular country stands out globally due to its significant silver reserves, among other resources. Learn more regarding this country, its location, why it is a world leader, and other interesting facts below.
IN WHICH SOUTH AMERICAN COUNTRY DO YOU FIND THE WORLD’S MAIN SOURCE OF MINERALS?
Mining plays a crucial role in the economy of a country, as experts reveal, making a particular country located in South America a global leader. This nation possesses a wealth of geological resources thanks to the presence of the Andes Mountains.
Even at the Latin American level, Peru stands out as a world leader in the production and reserves of minerals such as copper, silver, molybdenum, gold, and zinc, which provide the territory governed by Dina Boluarte with “an enormous geological potential”.
The Government, through the Ministry of Energy and Mines (Minem), also highlights the country’s mineral wealth, added to “the availability of cadastral information… the offer of first-class suppliers and the current legal framework promoting private investment”, making it an attractive destination for leading international companies.
According to data provided by Edgardo Orderique, president of the National Mining Congress (Conamin), by 2024, the projection indicates that the contribution of these activities linked to the exploration and exploitation of metals such as gold, silver, copper, lead, and zinc, among others, will reach 9.5% of the Gross Domestic Product (GDP).
“The Andes Mountains are the backbone of Peru and the main source of mineral deposits in the world.”, emphasizes the Minem, highlighting that the nation leads the world in “silver reserves and ranks among the top positions in other base and precious metals”.
THE METAL WHOSE ECONOMIC VALUE SURPASSES GOLD AND IS CONSIDERED THE MOST EXPENSIVE
Throughout human history, metallurgy has existed as the branch that harnesses science, technology and the art of obtaining industrial metals and minerals, which are then used in the manufacture of kitchen items, and many other products that increase its economic value. However, gold does not hold the top spot for the most expensive metal in the world today.
According to information published by the newspaper The newspaper and corroborated by specialized portals such as Tecnobisa and AMG, rhodium stands out globally as one of the most popular and expensive chemical elements due to its attributes that drive demand and value in the automotive sector.
This silvery white metal, with the symbol Rh, from the platinum family, is primarily used in catalysts and plays an active role in the catalytic reforming of hydrocarbons, among other characteristics that make it economically significant, even surpassing renowned gold.
HOW MUCH DOES RHODIUM COST AND WHAT CHARACTERISTICS DOES IT OFFER AS THE MOST EXPENSIVE AND SOUGHT AFTER METAL IN THE WORLD?
Its versatility in automobiles, airplanes, electrical contacts, thermocouples, and high-temperature resistance cables, as per data shared by IFLScience, places rhodium at the top of preferences. It is 10 times more expensive than gold, fetching around $10,300 per ounce, or approximately 40,000 soles.
The reasons that make it such a precious and noble metal lie in its resistance to both corrosion and oxidation, as well as its high melting point of 1,964 degrees, and its ability to withstand water temperatures.
Furthermore, as part of the platinum group alongside palladium, osmium, iridium, and ruthenium, it is worth highlighting that since 2020, “The price of rhodium has seen a significant increase due to its increasing demand and limited availability in the market.”, as AMG points out.
It is noteworthy that gold itself is a metal valued at $1,850 per ounce, and is among the 5 most expensive metals in the world, alongside palladium, ruthenium, platinum, and iridium.
The impact of the economy on a nation is based on the realization of various activities, but none as sustainable as that source of income. minerals able to be exported thanks to the longest mountain range in the world. Today South America offers you multiple advantages at a geological level, and as a result, a particular country stands out globally due to the great potential it demonstrates through silver reserves, for example, among others. Learn regarding it below, where it is located, why it represents a world leader, and more interesting facts regarding it.
IN WHICH SOUTH AMERICAN COUNTRY DO YOU FIND THE WORLD’S MAIN SOURCE OF MINERALS?
The mining industry sustains a country’s economy, experts reveal, making global leadership demonstrated by a particular country located in South America. It houses all the geological resources thanks to the presence of the Andes mountains.
At the Latin American level even, Peru stands out for being one of the world leaders in production and reserves of minerals such as copper, silver, molybdenum, gold, and zinc, which precisely provide the territory today governed by Dina Boluarte, “an enormous geological potential”.
This is what the Government points out through the Ministry of Energy and Mines (Minem), also highlighting that the country’s mineral wealth, added to “the availability of cadastral information… the offer of first-class suppliers and the current legal framework promoting private investment”, making it an attractive destination for leading international companies.
In this sense, and according to data provided by the president of the National Mining Congress (Conamin), Edgardo Orderique, by 2024 the projection highlights that the contribution of these activities linked to the exploration and exploitation of metals such as gold, silver, copper, lead, and zinc, among others, will translate into a 9,5% of the Gross Domestic Product (GDP).
“The Andes Mountains are the backbone of Peru and the main source of mineral deposits in the world.”, the Minem also highlights, emphasizing that the nation as such leads the world in “silver reserves and ranks among the top positions in other base and precious metals”.
THE METAL WHOSE ECONOMIC VALUE SURPASSES GOLD AND IS CONSIDERED THE MOST EXPENSIVE
Throughout the history of mankind, metallurgy has existed as the branch that takes advantage of science, technology, and the art of obtaining industrial metals and minerals, for their subsequent use in the manufacture of kitchen items, and many other products that enhance the economic value it holds, but it is not gold that leads the ranking of the most expensive in the world today.
According to information published by the newspaper The newspaper and corroborated by specialized portals such as Tecnobisa y AMGhe rhodium It stands out for being one of the most popular and expensive chemical elements globally due to attributes that go hand in hand with the demand and value it has in the automotive sector.
Under the symbol Rh, this silvery white metal from the platinum family is basically used to make catalysts and actively works in the catalytic reforming of hydrocarbons, among other characteristics that weigh it economically even above the renowned gold.
HOW MUCH DOES RHODIUM COST AND WHAT CHARACTERISTICS DOES IT OFFER AS THE MOST EXPENSIVE AND SOUGHT AFTER METAL IN THE WORLD?
Its versatility for use in automobiles, airplanes, electrical contacts and thermocouples and also high temperature resistance cables, according to data shared by IFLScienceplace rhodium in first place in preferences, being 10 times more expensive than gold, and bordering on the sum of 10,300 dollars per ounce, that is, almost 40 thousand soles.
The reasons that make it such a precious and noble metal lie in its resistance to both corrosion and oxidation, as well as its high melting point of 1,964 degrees, and its ability to withstand water temperatures.
Also, and remembering that it is part of the platinum group along with palladium, osmium, iridium, and ruthenium, it is worth highlighting that since 2020, “The price of rhodium has seen a significant increase due to its increasing demand and limited availability in the market.”, as AMG points out.
It is worth noting that gold itself is a metal whose value per ounce is $1,850, and is among the 5 most expensive in the world along with palladium, ruthenium, platinum, and iridium.
