User blog comment:ChazmanianDevil/Mithril Swords/@comment-26347028-20160516205103/@comment-26863727-20160519150132

I'm fully aware it means "gray-gleam". But just about anything can be alloyed with iron and carbon.

In fact, since mithril is more like a noble metal than anything else, it would be way too stiff for a sword anyway. It would shatter into a gazillion pieces.