There are only a handful of elements and chemical compounds in the Universe, probably on the order of a dozen. It will be plate tectonics and the presence of water in terrestrial-type planets (probably of the order of billions or thousands of billions in galaxies like the Milky Way) that will expand the quantity of minerals and compounds to several hundreds (from 420 to 1500 depending on the abundance of water and plate tectonics). And then the advent of Oxygen (released by life forms such as plants) further expanded the number of compounds and minerals to around 4500. And life expands this variety further beyond 5000.
