In the typical fashion of history repeating itself, the importance of a strange mineral has been amplified in the contemporary world, similar to the 1848 California gold fever. First discovered in 1844, this strange mineral promises to be pivotal in the looming futuristic ground-breaking technological innovation. Thus, it is no surprise that the demand for this mineral has skyrocketed, although its availability remains scarce.
A formerly outcast mineral
Karl Klaus first discovered this once-ignored mineral in 1844, naming it after Ruthenia, the Latin term for Russia. It is a silvery-gray platinum group metal (PGM). The now sought-after mineral was previously underappreciated because it was less well-known compared to its counterparts, platinum and palladium. Despite the increasing importance of this strange mineral in the modern world, its annual production is lower in relation to other industry metals, standing at an estimated 30 tons. As the modern world is desperately scrambling to increase its supply, the question that remains is what exactly sparked a surge in the demand for this strange mineral?
The trailblazing emergence of artificial intelligence and the data explosion have significantly contributed to the importance of this strange metal. For instance, data centers and cloud computing need substantial data storage. Thus, the mineral enables efficient data storage because it is used in hard disk drives (HDDs) as an ultra-thin coating (less than a nanometer thick), allowing massive AI data density.
Analyzing the undersupply of ruthenium
Despite the increasing demand for ruthenium, it remains undersupplied. The low supply is an issue projected to continue until the modern world discovers an alternative mineral that can complement or manage the explosive growth of AI. The price of ruthenium drastically increased to about USD$800 per ounce (almost doubling the previous year) as a consequence of the undersupply and unreliable strategy of increasing its production.
Ruthenium is primarily produced in South Africa and Russia, which presents a barrier of accessibility for the rest of the world, considering the logistical and geopolitical intricacies in those countries. The production of ruthenium is heavily dependent upon platinum mining, meaning any obstructions in that realm are likely to spill over to ruthenium production. The low supply and scarcity of ruthenium may result in issues identical to those faced during the 1848 California Gold Fever.
To what extent can ruthenium power the Earth?
At the moment, the importance of ruthenium is heavily intertwined with AI, but there is potential for its usage to increase within other industries. Ruthenium possesses catalytic attributes that make it useful for petroleum refining, ammonia production, and electrochemical processes. As the usage of this strange mineral continues to increase within various departments and organizations, its supply may also increase, as countries will have a greater incentive to meet the demands of ruthenium.
The overarching advantage that ruthenium holds over other minerals is that it is synonymous with the inevitable technological boom. Additionally, there is a lack of affordable alternative minerals that can be used in the same way that ruthenium is, hence it continues to benefit from its uniqueness.
Will AI be able to progress without ruthenium?
After a staggering 177 years, “gold fever” has returned, except this time, ruthenium has seemingly taken the limelight. The entire earth is eager to gain a head start in the futuristic AI-centered world, and this strange mineral is expected to play a pivotal role in the ensuing technological innovation. There are still a lot of moving parts before AI entirely takes over, but with its immense reliance on storage, can AI operate without ruthenium? Can ruthenium power the earth without AI? Nonetheless, it is unquestionable that the “gold fever,” or perhaps “ruthenium fever,” is a reality brought forth by the digital revolution.
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