10 MOST EXPENSIVE MINERALS IN THE WORLD

10. FIRE OPAL ($2300 PER CARAT)

Also know as the Virgin Rainbow Opal or the Black Opal, these minerals are among the rarest opal family and the only known places where they can be harvested are in Australia, Ethiopia, Brazil, Mexico and the United States. Technically, the fire opal is not considered by scientists as a mineral because it does not have a crystal-like structure and is a lot more of hydrated form of silicon dioxide or silica. However, this extremely rare and unique opal fetches an impressive price tag because it has a property that allows it to fluoresce various colors that resemble a rainbow and according to John Dunstan, a miner who first discovered the said mineral in Australia, “the opal actually glows in the dark – the darker the light, the more color comes out of it”.

9. GOLD ($56 PER GRAM)

It is one of the most valuable mineral on earth and throughout history. Though it may appear to be extremely precious, it is not the most expensive mineral on earth. However, because if its appeal, it has become what is now known as a “safe haven” investment where its value does not diminish. Instead, increases more overtime. Because of its extreme value, banking systems around the world still trade with it and bases the value of a country’s monetary system according to the amount of reserve it has and how much they are worth in the market.

8. PLATINUM ($931 PER TROY OUNCE)

Slightly more value than gold, platinum has played a significant role in the fashion industry, and jewellery trade for centuries. First discovered in South America, its name derives from the word “platina” or “little silver” due to its color. Also, the value of this precious mineral is not only because of its use in jewellery but also in industrial applications and devices such as catalytic converters. Today, among the largest producers of platinum in the world are Russia and South Africa.

7. LITHIUM ($9100 PER METRIC TON)

You all may have heard of it and I am pretty sure that you have come into contact with it. In fact, we all have it in our homes in a different form. Lithium is perhaps known for its use in rechargeable batteries that powers many devices from flashlights to cameras. First discovered in Sweden in 1817, it has since been one of the most valuable minerals used in almost every industry which makes its cost vary from one country to another.

6. RHODIUM ($56 PER GRAM)

Extremely rare, rhodium is a mineral that is highly valued because of its resistance to corrosion which makes it an excellent choice in building catalytic converters, glass production and plating sterling silver. While it may not be the first choice when it comes to gifting it to a significant other, its use in industry has made it one of the most valuable minerals next to lithium.

5. DIAMOND ($10,000 PER CARAT)

You would think that diamonds, because of their price tags and the amount of commercial value we place on them, would be at the top of the list but unfortunately it only lands on the fifth spot. It is true that they are among the most expensive of gemstones in the commercial market, diamonds, however are not at all rare. Thanks to a popular jewellery company, these hardy, almost indestructible rocks have gained and still claim popularity as engagement ring ornaments where the bigger ones are we assume much preferred over others. As mentioned earlier though, these sturdy gems are not at all rare and can be sourced in plenty of countries including South Africa, South Australia and Russia. And because of their heavy duty quality, they are also used in tools such as industrial strength drills, glass cutters and the like.

4. RED BERYL ($10,000 PER CARAT)

With a per carat value that is equal to a diamond’s, red beryl takes the spot just above diamonds because of its mineral composition. To the untrained eye, red beryls can resemble small rubies because of their crimson color. However, these minerals are composed of beryllium, silicate and aluminum and it is these same minerals and others elements, when combined together that gives this rock its magnificent scarlet shine. Red Beryls are commonly found in Utah, in the United States. Though they are priced at a modest $10,000 per carat, red beryls that are above 2 to 3 carats are extremely rare which makes this mineral a lot more desirable and valuable.

3. RUBY ($15,000 PER CARAT)

Among the so-called “Cardinal Gems”, rubies are as covetable as sapphires, amethysts, emeralds and diamonds. Ranging from pink to more traditional blood red, rubies were first discovered and sourced in Myanmar but has since been seen in countries like Brazil and Scotland. Monarchs, aristocrats and nobility have placed high regard for rubies because of its extreme attractiveness. However, what makes it justify its hefty price tag is the difficult way of mining these red rocks that require skill and special technique.

2. BLUE GARNET ($1.5 MILLION PER CARAT)

Garnets are typically common, extremely popular jewellery pieces, and come in a wide variety of colors expect blue. It was not until around the 1990s when the first blue garnet was discovered in Madagascar. Since then, its rarity has mad it so much more expensive than its cousins. Though they have already been mined in Russia, United States and Turkey, the blue variety of garnet is still the most elusive of gemstones to this very day.

1. JADEITE ($3 MILLION PER CARAT)

Diamonds may be a girl’s best friend and rubies may be a status symbol among nobility, but jadeite or jade is the king or should we say, Emperor of minerals. Like garnet, jade is found in many colors ranging from apple green to mauve. However, jade stones in deep emerald green are extremely rare that they have earned the name “Imperial Jade” as they were only worn by the Emperors and Empresses of China. In fact, jade has been revered in many other cultures for thousands of years like Mesoamericaand the Maori. Today, Imperial Jade can be found in countries like New Zealand, Myanman and Japan. Despite that, it has not diminished its value and a single carat of Imperial Jade will cost you at least $3 Million in the market.