Arcanite

The lava which flows from Mount Barrlam off the coast of Miranthor is infused with arcane properties and when processed correctly, can be made into the highly magically conductive material known as Arcanite.
Arcanite is rare and expensive due to the method by which the lava rock is processed into Arcanite. As the lava cools after an eruption, it loses the vast majority of its arcane properties. To maintain these properties, a stabilizing material (ideally adamantine, but mithral can also be used, though this provides a less potent result) needs to be melted into the lava while it is still hot enough to do so. The substance then needs to be cooled rapidly, so it can solidify before loss of potency. The procedure is difficult and dangerous, and needs to be done with precise timing, measurements, and temperatures.
Mithral processed Arcanite can be used in place of material components for spellcasting, with twice the efficiency (half cost). It can also be used to make spellcasting focuses. Adamantine process Arcanite is twice as efficient as its mithral alternative, with the added benefit of amplifying magical potency. The results of this vary depending on how well the lava rock has been processed, and none have perfected the procedure to the degree of the Barrlam Tortles, native to the island named for the volcano.
Vendors in Miranthor, particularly in Glila, will sell beautiful irredescent crystals claiming that it is Arcanite, but this is usually unprocessed Barrlam lava rock that has lost the vast majority of its magical properties. Crystalized "Arcanite" is usually just Barrlam lava rock that has been reheated and refined to take on beautiful crystal shapes. Mithral processed Arcanite is usually smooth, while Adamantine processed Arcanite closely resembles raw lava rock, though far less porous.
Properties
Adamantine processed Arcanite can be used in place of material components for a spell at a quarter of the material cost. Depending on the purity of the process, it can also be used to amplify spellcasting, similar to the effect of metamagic. The potency of the amplification depends on how well the Arcanite was processed.

Mithral processed Arcanite is usually smooth in texture and can be used in place of spell components, but cannot amplify spell potency.

Barrlam lava rock can often be found in Miranthor markets in larger cities, sold as Arcanite. The lava rock is refined into crystals to give it a more visually appealing and appear more mysterical.