Question

Explain what makes one mineral so precious or costly compared to another.

Answer 1

There are multiple factors that contribute to the cost of a mineral. First of all is the demand or application, which will be related to its physical properties. For example, nontarnishing metals like gold are held in high value for their appearance. Second is the supply of the mineral, those that only have a small quantity in the earth's crust are likely to be more expensive. Third is the cost of extraction and manufacturing. Some minerals may be abundantly found, but may be distributed over a wide area, meaning that it is still expensive to mine and transport.