Technology Drives Demand.

The article reports on the growing demand for cobalt, in particular, its use in the production of technology. Based on a report in the "Mining Journal," cobalt demand surged to $52.50 per pound at the start of March, up by 74% over the previous year. In addition, Credit Suisse states that cobalt demand is high among specific hi-tech industries in Asia, notably China. The firm adds that the Chinese demand for cobalt would not slow down and its global demand could grow as much as 7% per annum between 2007 and 2009. The Democratic Republic of Congo, which lies in the Copperbelt along with Zambia, put a moratorium on the export of cobalt concentrate that caused among others a boom in metal smuggling. Cobalt is used in the aerospace, rechargeable battery and electronic technology sectors.