ISLAMABAD-Economically valuable silvery-white rhodium mineral is found in sufficient quantities in Pakistan, having the potential to fetch great economic benefits for the country if its extraction is carried out vigorously under government patronage.
Talking about the economic value and occurrence of rhodium in Pakistan, Muhammad Yaqub Shah, a principal geologist in Global Mining Company Private Limited, Islamabad, told WealthPK that it was both an industrial mineral and a business commodity. “It is one of the platinoid group of elements (PGEs) and is found in Gilgit-Baltistan (GB). Where outcrops of sulphide bodies or ultramafic rocks are exposed, the earth bears the treasure of PGEs. In GB, PGEs are found in different areas in different ratios. Rhodium can also be found in placer deposits of Pakistan, especially from the black sands in Balochistan.”
Yaqub Shah, who is also a former general manager, geology, Pakistan Mineral Development Corporation, said, as an accessory, rhodium can be found with a few other metals like nickel, copper, chromium, etc. “Such types of minerals are mined in Muslim Bagh, Kurram, Bajaur and Mohmand,” he added before saying that unfortunately, no system has been developed to check each and every concentrate found with a mineral when it is mined and exported. “It must be made mandatory to attach the lab report with every mined product. So, in case of the findings of other elements, the country may get economic benefits against it.”
Rhodium is expected to grow to $3.2 billion at the compound annual growth rate of 5.7% in 2022. South Africa, Russia and Canada produce most of rhodium worldwide. South Africa is expected to produce about 575,000 ounces of rhodium, making it the largest producer globally in 2022. In September 2022, rhodium spot price touched $14,100 per ounce, $453.33 per gram, and $453,325 per kilogramme.
Rhodium is widely used for industrial purposes like a finishing element in white gold jewellery, as a catalyst in hydrogenation reactions and to prepare nitric acid and acetic acid; as a coating of optical fibers, optical mirrors, thermocouple elements, headlight reflectors, electrical contacts, semiconductor wafers, printed circuit boards (PCBs), automobile industry, to make crucibles, cure silicones, form drug precursors, and other mission-critical components. As an alloying agent, it is used to harden and improve the resistance of platinum and palladium to manufacture electrodes for aircraft spark plugs. Its detectors are used in nuclear reactors to check the neutron flux level and are also used in mammography systems as well.