Why are metals such as Ni and Co economical to mine and use in industrial processes even though they have a very low natural abundance in Earth’s crust?

Chemistry
10th Edition
ISBN:9781305957404
Author:Steven S. Zumdahl, Susan A. Zumdahl, Donald J. DeCoste
Publisher:Steven S. Zumdahl, Susan A. Zumdahl, Donald J. DeCoste
Chapter1: Chemical Foundations
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 Why are metals such as Ni and Co economical to mine and use in industrial processes even though they have a very low natural abundance in Earth’s crust? 

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Step 1

The major use of metals Co and Ni in industry is due to the reason that they are ferromagnetic in nature. The chief of these metals are collected as by products during the extraction process of ore of other metals.

Step 2

This ferromagnetism is very important in industry and military applications. Generally Co is used as an additive for production of high strength steels. The strength of carbides makes it good material for industrial applications.

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