106 - The International Resource Journal

FEBRUARY 2013 The International Resource Journal55Turbine PW7000Weight says demand for the cobalt rawmaterial is very dynamic in global terms, meaningthe most practical way to gauge the marketis by looking at its refined production. Chinadoesn’t have cobalt resources but it refines 43%of it, answering huge domestic demand for usein technology applications such as batteriesand other chemical applications. Europe refinesaround 24% and Africa 15%. While China makesup 35% of total global demand, Japan makes up18%, the EU 15% and the US 13%.Taking a standWith globalisation comes regulation and the CDIhas been busy in recent years responding to theEU’s chemical policy called REACH – standing forthe Registration, Evaluation, Authorisation andRestriction of Chemicals. Although designed toprotect human health and the environment, allowthe free movement of substances through theEU and enhance competitiveness within industry,the CDI thinks REACH has actually caused anumber of unintended consequences across the