Why is iridium so expensive?

Inquiring minds often want to know: why is iridium, a rare transition metal found in minute quantities in the Earth's crust, so exorbitantly priced? Its high cost is attributed to a combination of factors. Firstly, the scarcity of iridium itself makes it a precious commodity. Secondly, the complexity of the extraction process adds to its value, as the metal is often embedded in other minerals and requires specialized techniques to separate. Additionally, iridium's unique physical properties, such as its extreme hardness and resistance to corrosion, make it indispensable in high-end applications like aerospace engineering and nuclear reactors, further driving up demand and prices. These converging factors contribute to the high cost of iridium, making it a valuable asset in today's market.