Base Metals

In mining and economics, base metals refers to industrial non-ferrous metals excluding precious metals. These include copper, lead, nickel and zinc. The U.S. Customs and Border Protection is more inclusive in its definition. It includes, in addition to the four above, iron and steel, aluminum, tin, tungsten, molybdenum, tantalum, cobalt, bismuth, cadmium, titanium, zirconium, antimony, manganese, beryllium, chromium, germanium, vanadium, gallium, hafnium, indium, niobium, rhenium and thallium.

Precious Metals

A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most elements. They are usually ductile and have a high luster. Historically, precious metals were important as currency but now are regarded mainly as investment and industrial commodities. The best-known precious metals are the coinage metals, gold and silver. While both have industrial uses, they are better known for their uses in art, jewelry, and coinage. Other precious metals include the platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded.