The legendary metal known as Mithral is a notoriously rare substance. Also known as Silversteel, it is coveted for its lightness, strength and durability, which is unlike any other metal. Besides this, it is well know for its ability to hold spellcraft. Many enchanted items are ones made of mithral.
Mithral is notoriously hard to work. It can only be heated in the hottest of flames. Only dragonfire or the flames that burn deep within the earth have such power. And even then it can only be worked by magic to craft it into detailed pieces.
History
It was first discovered by the elves of Sylvanion. They first learned how to treat and work the metal, and how to engrave it with runes. They taught this to the dwarves, who have since perfected it. They started delving for the mineral and covet it like no other. Dwarven spellsmiths are unequalled in skill in all the world.
Rarity
Nowadays, mithral is notoriously rare. The elven strongholds of old lie forgotten and in ruins, and no one can get to their ancient mines. Many of their artifacts are also lost, but every now and again an elven mithral sword or breastplate turns up. The dwarves keep digging for it, and sometimes small veins are discovered. The dwarf city of Rhûn is one of the places where it is still mined today.