Mithril is a valuable Middle-earth metal with which major J.R.R. Tolkien fans would be fairly familiar. However, enthusiasts of Peter Jackson's movie trilogy, who maybe haven't dipped into Tolkien's vast world in his books, would have first been introduced to the famed mineral in The Lord of the Rings: The Fellowship of the Ring. In the scene in Rivendell where Bilbo presents Frodo with his sword "Sting," he also presents a special shirt made of mithril mail. He describes the shirt as "light as a feather and hard as dragon scales." Later, Gandalf would comment upon the mining of mithril in the Mines of Moria and that Bilbo's shirt was "worth more than the whole of The Shire." The same mithril shirt appears in The Hobbit: The Battle of the Fives Armies, where Thorin gifts it to Bilbo from the hoards of The Lonely Mountain.
Source:https://www.cbr.com/lord-of-rings-mithril/