Mithril Armor?

[doug*platypus]

From a mineralogical standpoint, it is possible (and quite likely) that the minerals being mined for mithril were of a low grade.

In other words, a large amount of these low grade materials were needed to produce only a small amount of mithril. The amount of mining, of digging and of tunneling, to produce something like Frodo's chainmail shirt, would have been considerable. And don't forget the nasty old Balrog.