Because they are so concentrated in the dense core, siderophile elements are known for their rarity in the Earth's crust. Most of them have always been known as precious metals because of this. Iridium is the rarest transition metal occurring within the Earth's crust, with an abundance by mass of less than one part per billion. Mineable deposits of precious metals usually form as a result of the erosion of ultramafic rocks, but are not highly concentrated even compared to their crustal abundances, which are typically several orders of magnitude below their solar abundances. However, because they are concentrated in the Earth's mantle and core, siderophile elements are believed to be present in the Earth as a whole (including the core) in something approaching their solar abundances.