The Lord of the Rings: The Rings of Power episode 2 introduced viewers to the Dwarven kingdom of Khazad-dûm. The lush home of the Dwarves is seen in its full glory, centuries before it fell to ruin in the Third Age.
Elrond tricked his way into the dwelling in a bid to convince his old friend Durin IV to help him with Celebrimbor’s new plans. As we learned earlier in the episode, the Elven smith hopes to build a tower that can house a mighty furnace.
However, viewers later find out that the Dwarves are keeping a secret from the Elven kingdom. After being convinced by his old friend, Durin IV locates his father in the depths of Khazad-dûm. He tells King Durin III that he’s certain Elrond "doesn’t know" their secret, but the leader isn’t so sure.
We’re not told in the scene exactly what it is that they’re hiding. However, the pair approach a mysterious box, which opens as something glows from within. The camera cuts away as King Durin III lifts something up and we hear a faint jingle.
While the series has yet to reveal what’s in the chest, a major theory suggests it could be the precious metal Mithril. Some eagle-eyed fans noticed Durin IV could be seen holding a small piece of metal in one of The Rings of Power trailers. This is seemingly Mithril – a lightweight and incredibly strong metal mined by the Dwarves in Khazad-dûm.
It was mainly used for armor, with Bilbo taking a chainmail shirt made of it from Smaug in The Hobbit, and jewelry. However, it was also used to create one of the Elven rings that Celebrimbor makes: Nenya, which Galadriel later looks after.
By the Third Age, Mithril was incredibly rare as it had been overmined by the Dwarves thanks to its special properties. Therefore, it makes perfect sense The
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