106 - The International Resource Journal

54 MINERALS Cobalt Development Institutetools and edges,9% into catalysts, 9% into pigments,7% into magnets, 5% into organics andthe remainder into hard facing, high-speed steeland other applications. Cobalt alloys are frequentlyused in aerospace and electronics applications.The naturally occurring base metal evenhas uses in the pharmaceutical and biotechnologyindustries, and Weight believes its potentialreaches further still.“We’re very optimistic in regards to its use inaerospace applications,” he says. “Cobalt growthhas been consistent in the last 10 years or more…a recent forecast from CRU [Commodities ResearchUnit] forecasts 6% in the next year.” Withjust 85,000 tonnes refined cobalt produced peryear, it remains a highly specific minor metal; butas Weight says, “it really pulls its weight in effectiveness”.Cobalt market dynamicsCobalt is produced in Africa, Australia, Canada, Russiaand Brazil, but more than 50% of it comes fromthe Democratic Republic of Congo (DRC). Resourcenationalisation is a concern and the political instabilityof the DRC is something needing consideration,agrees Weight. “But from my own experience,[the DRC’s] recent situation has been very positive;there are publically listed companies investing; andproduction is increasing regularly,” he says.“Obviously we must remain vigilant withthe security of the region, but we must rememberthat the DRC is the size of Western Europe,and the mineral-rich Katanga area is a significantdistance away from the lawless EasternKivu region. We would hope that this informationwould help those interested in miningthere. It does have its share of difficulties but,on the positive side, the country has renovatedits industry and is producing significantly morematerial.”