Background
Cobalt is used in metallurgical and chemical applications. Metallurgically, cobalt is used to strengthen and enhance alloys for high temperature and magnetic applications. Chemically, cobalt is mostly used in batteries. To a lesser extent, cobalt compounds are used in pigments for the distinctive blue color it imparts.
In recent years, the demand for cobalt in chemical applications has grown much faster than the demand for metallurgical applications. Palisade Research noted,
The use of cobalt in batteries has grown by an average of 13% annually over the last ten years; at the same time,