South Africa is the dominant producer, accounting for nearly 80% of global rhodium output. Russia and Canada account for the remaining 20% of global rhodium production, depicted in the graph shown.
At today's price of $351.19 per gram, rhodium has changed +10.99% so far in 2026. It is up +116.11% since the start of last year and +127.23% since the start of 2024. This precious metal is down –27.59% since the start of 2023.
World's Most Expensive Mineral Isn't Gold or Platinum –Rhodium is found in South Africa 🇿🇦. South Africa is the world's leading producer of rhodium, accounting for nearly 80% of global output. Rhodium is a platinum group metal and is primarily used in catalytic converters in automobiles.
Principal sources are located in South Africa, river sands of the Ural Mountains in Russia, and in North America, especially the copper-nickel sulfide mining area of the Sudbury, Ontario, region.
Rhodium is ~100x rarer than gold – mined primarily as a by-product of platinum and nickel, making its supply extremely limited and volatile. Annual production is only ~30 tons globally, vs. gold's 3,000+ tons. This scarcity inflates its market value exponentially.
The most common uses for rhodium include automotive catalytic converters, chemical catalysts, electrical contacts, reflective coatings, and for plating white gold, silver, and other jewelry.
What is the most expensive metal in the world?
Although the underlying metal may be magnetic, the rhodium plating itself is not magnetic. Thus, if you have a piece of jewelry that has been rhodium plated, it will not be magnetic.
Investing in rhodium can be a profitable venture for those who can afford it. Rhodium's rarity, high price, and constant demand from the automotive industry make it an attractive investment option. However, the metal's price volatility and limited supply can pose risks for inexperienced investors.
Rhodium compounds may produce kidney damage and toxic symptoms of the central nervous system. Rhodium compounds are encountered relatively rarely by most people. There are almost no reported cases of human being affected by this element in any way. However all rhodium compounds should be regarded as potentially toxic.
1. South Africa. South Africa is the wealthiest African state with the highest gross domestic product. Mining is one of its major economic contributors.
Ghana is a very important place for gold. It produces more gold than any other country in Africa. In fact, it's one of the top gold-producing countries in the world. Last year, Ghana produced 4 million ounces of gold.
What metal is in a catalytic converter? Catalytic converters clean up emissions from gasoline and diesel vehicles using metal catalysts which usually contain platinum, palladium and rhodium.
Rhodium belongs to the platinum metal family and is known for being very scarce, having a high price in the market, and being used in many industries.
Better Durability & Scratch/Tarnish Resistance — Because rhodium is much harder and more scratch‑resistant than softer metals like silver or gold alloys, the plating serves as a guard against everyday wear: scratches, abrasion, or oxidation.
Quick Take: 10 Years of Investing in Gold
Ten years ago, the price of gold had an average closing price of $1,159 per ounce. Today, it's worth about $4,200 per ounce — a 262% increase in value. So, if you had invested $1,000 in gold a decade ago, it would be worth approximately $3,620 today.
If you ask what the most valuable precious metal is, rhodium takes the crown in terms of price per ounce. However, for long-term stability, gold and silver remain popular for investors.
In the changed post COVID-19 business landscape, the global market for Rhodium estimated at US$3.8 Billion in the year 2022, is projected to reach a revised size of US$5.6 Billion by 2030, growing at a CAGR of 5% over the analysis period 2022-2030.
It's the finishing touch that elevates your ring from beautiful to breathtaking. But if you're wondering “How long will rhodium plating last?” the simple answer is: Usually 12–24 months — depending on how you wear your jewelry.
Types of Rhodium Testing
It involves directing X-rays at the sample, causing it to emit secondary X-rays that are characteristic of the elements present. XRF provides rapid and accurate analysis of rhodium purity, detecting the presence of other elements or impurities.
The “common knowledge” about rhodium is that it is most commonly found in automobile catalytic converters.
The best known precious metals are the precious coinage metals, which are gold and silver. Although both have industrial uses, they are better known for their uses in art, jewelry, and coinage.
The rarest stable metal is tantalum. The rarest metal on earth is actually francium, but because this unstable element has a half life of a mere 22 minutes, it has no practical use.
The largest source of iridium is South Africa.