Rhodium, like palladium, is a member of the platinum metals group. It is frequently used to harden alloys of platinum and palladium. Rhodium is a key component in the world automobile industry. Rhodium investors have seen the metal's price increase rapidly during the last five years, but with a soaring price comes the worry that the bubble may eventually burst. Some of rhodium’s principal uses are as a finish for jewellery and mirrors, in electrical connections and in aircraft turbine engines. It is also frequently used in catalytic converters in automobiles with internal combustion engines, which help to curb emissions. Lastly, rhodium can be considered the ultimate symbol of wealth - above and beyond gold or platinum - because of its price and rarity.

Rhodium doesn’t come cheap by any means, and its price has been steadily rising since 2003, according to Kitco Precious Metals, a metal dealer. In a five-year span beginning in 2003, rhodium has averaged a price of R3 224,51 per ounce, climbing higher than R9 000 per ounce between January and April of this year. What has helped rhodium prices steadily rise is its use in catalytic converters, where - especially in diesel-powered vehicles - the metal has no substitute. Europe in particular has a high demand for rhodium, as 60 percent of all its automobiles are diesel-powered. Rhodium is expected to keep outpacing other precious metals in price as its need in the following catalytic converters continues: Diesel catalytic converters Non-diesel catalytic converters

The methods used to acquire rhodium are quite complex, as it is one of the rarest natural metals produced in significant quantities, according to ResourceInvestor.com. No rhodium-specific mine exists; rather, the metal is mixed with other metal ores such as silver, gold and platinum, and requires industrial extraction.

South Africa holds the world’s largest mines where rhodium can be found. Additionally, this country is the principal exporter of this precious metal, exporting 60 percent of the world's supply of rhodium. Annual world production of rhodium is estimated between seven and eight tons, according to Principal Metals Online. In comparison, the world production of gold was more than 2 250 tons in 2006, according to the United States Geological Survey.