World Cobalt Market

World Cobalt Market

This report analyzes the worldwide markets for Cobalt in Metric Tons and Millions of US$. The specific end-use segments discussed are Adhesives & Dryers, Batteries, Catalysts, Cemented Carbides (also known as Hard Metals), Hard-Facing & Other Alloys, Magnets, Super Alloys, Specialty Chemicals, Pigments, and Others. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Annual forecasts are provided for each region for the period of 2000 through 2015. The report profiles 98 companies including many key and niche players worldwide such as Caledonia Mining Corporation, Chambishi Metals Plc., Compagnie de Tifnout Tighanimine, Eramet SA, Eurotungstene Poudres SA, Freeport-McMoRan Copper & Gold Inc., H. C. Starck GmbH & Co., KG, Minara Resources Limited, MMC Norilsk Nickel Group, Nanjing Hanrui Cobalt Co. Ltd., OM Group Inc., Osram Sylvania, QNI Pty Ltd., Sherritt International Corporation, Sumitomo Metal Mining Co., Ltd., Umicore, Vale Inco, Xstrata Plc, and Zambia Consolidated Copper Mines. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

COBALT MCP-2633
A GLOBAL STRATEGIC BUSINESS REPORT


CONTENTS


I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-2
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3


II. EXECUTIVE SUMMARY

1. Global Market Overview II-1
Outlook Remains Positive II-1
Growth in Aerospace Industry Drives Demand for Cobalt II-2
Current & Future Analysis II-2
Europe - Largest Market for Cobalt II-2
Table 1: World Market for Cobalt (2000-2010): Geographic
Regions Ranked by CAGR for Volume Sales for Asia Pacific,
Europe, Japan, Canada, Rest of World, and USA (includes
corresponding Graph/Chart) II-3
Super Alloys Account for a Major Share II-3
Table 2: World Market for Cobalt: Percentage Breakdown of
Consumption by End-Use Market for2007 for Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Superalloys, Specialty Chemicals,
Pigments, and Others (includes corresponding Graph/Chart) II-3

2. Production Scenario II-4
Table 3: World Cobalt Market (2006 & 2007*): Mine Production
in Metric Tons for USA, Australia, Brazil, Canada, China,
Congo, Cuba, Morocco, New Caledonia, Russia, Zambia, and
Others (includes corresponding Graph/Chart) II-4

Table 4: World Cobalt Market (2007*): Reserves and Resource
Base for USA, Australia, Brazil, Canada, China, Congo, Cuba,
Morocco, New Caledonia, Russia, Zambia, and Others (includes
corresponding Graph/Chart) II-5

Table 5: World Refined Cobalt Market (2006 & 2007): Production
in Tonnes by Geographic Region - Europe, Africa, Americas,
Asia, and Others (includes corresponding Graph/Chart) II-6

Table 6: Leading Producers in the World Refined Cobalt Market
(2006 & 2007): Production Capacity in Tonnes for OMG,
Xstrata, Norilsk, ICCI, Umicore, Chambishi Metals, Vale Inco,
BHPB, CTT, Sumitomo, Eramet, and Others (includes
corresponding Graph/Chart) II-7

3. Pricing Scenario II-8
Prices to Come Down in 2009 II-8
Alternative Metals Send Alarming Signals II-8
Table 7: World Market for Cobalt (2001-2007): Prices of 99.3%
& 99.8% Grade Cobalt (US$ Per Pound) (includes corresponding
Graph/Chart) II-9

4. End Use Applications II-10
Superalloys II-10
Application Chart for Cobalt-based Superalloys II-11
Cemented Carbides II-11
Cobalt in Catalysts II-12
Cobalt Carboxylates II-12
Cobalt in Paint Dryers and Radial Tires II-12
Cobalt in Electroplating II-12
Cobalt in Ceramics & Glass II-12
GTL - An Emerging Application Area II-13
Other Applications II-13
Inorganic Salts II-13
Cobalt Powders II-13
Magnetic Alloys II-14
Cobalt in Rechargeable Batteries II-14
Table 8: Cobalt Battery Market Worldwide by Leading Players
(2004 & 2005): Market Share Breakdown for Umicore, OMG, ETP,
HCST, OSRAM and Others (includes corresponding Graph/Chart) II-15
Future Demand for Cobalt in Batteries II-16
Possible Growth Limiters for Cobalt Applications in Batteries II-16
New Technology Developments II-16
Environmental Concerns II-16
Prices II-16
Supply Dynamics II-16
Cobalt - A Binder In Cutting Tools II-16
Catalytic Converters II-17
Medical Applications of Cobalt II-17
Cobalt -Chrome-Molybdenum Alloys II-17
Cobalt 60 II-17
Cobalt in Chemicals II-17
Other Applications of Cobalt II-18

5. Product Overview II-19
Cobalt-A Historical Note II-19
Properties of Cobalt II-19
Major Sources of Cobalt II-20
Production Process II-20
Cobalt - Environmental Facet II-20

6. Select Technological Developments II-21
ONCOlog to Receive Milestone Payments for Cobalt Technology II-21
Escher Develops New Imaging Technology II-21
Superconductors Using Layered Cobalt Oxides II-21
Cytec Develops Innovative Amino Resin Process II-21

7. Recent Industry Activity II-22
Katanga Mining Merges with Nikanor II-22
Castle to Take Over Major Cobalt Mining Camp II-22
UC RUSAL Completes Acquisition of Major Interest in OJSC MMC II-22
Caledonia Inks Fourth Agreement with Chinese Refiner II-22
Caledonia Inks Two Agreements with Chinese Refineries II-23
LCM Plans to Expand Baluba Operations II-23
CAMEC Resumes Work in Mukondo Cobalt Mine II-23
RMMI Invests in Cobalt and Copper Mines of Congo II-23
SRMI Resumes Operations in Tubay II-24
CAMEC Proposed Plans to Acquire Stake in DRC II-24
Strike Minerals Acquires Additional Units in Mining Claim Blocks II-25
Xstrata Alloys to Acquire De Wildt Project from Nkwe Platinum II-25
Vale to Acquire Mining Rights of Mineração Apolo II-25
Dalian Xinyang Signs Contract with Shengbao Group and
Shengbao Mining II-25
Benton Resources Acquires Two Projects in Labrador II-26
Talvivaara Mining Company Signs Contract with Norilsk Nickel II-26
Hunan Nonferrous Signs a Contract with Compass II-26
Anhua Cobalt Commences Construction on Cobalt Smelting Facility II-26
China Metallurgical Group Signs Joint Venture Agreement with
Chinese Entities II-27
Avalloy Opens First Superalloy Plant in South Africa II-27
OM Group Divests its Nickel Assets to MMC Norilsk II-27
Silver Shield Announces Acquisition of Silver/Cobalt Deposits II-28
Anvil Acquires 15% Mining Rights in Kinsevere- Nambulwa Deposits II-28
CAMEC to Acquire Galico II-28
Lundin Mining Announces the Acquisition of Tenke II-29
CAMEC to Acquire Katanga Mining II-29
CVRD Undergoes Name Change II-30
Nordion Enters into an Agreement with Russian Nuclear Reactor II-30
Sherritt Concludes Plan of Arrangement with Dynatec II-30
Freeport-McMoRan Acquires Phelps Dodge II-30
ThyssenKrupp Merges with Precision II-30
Norilsk Acquires 97% of LionOre Stock II-31
AMP Sells Reinsurance and General Insurance Operation II-31
Gansu Jinchuan Group Signs Framework Agreement with Metals X II-31
Strike Acquires Cobalt Property in Kittson II-32
Highlands Pacific to Sell Interest in Ramu Project II-32
Norilsk’s Tati Refinery to be Used Globally II-32
Benton Resources Acquires NBK Copper-Nickel- Cobalt Property
in Labrador II-32
Norilsk Nickel Signs Supply Agreement with OM Group II-33
Anvil Mining to Increase Stake in Kinsevere- Nambulwa Joint
Venture II-33
NT Holding to Take Over Equity in Euro-Pacific II-33
Belvedere Resources Finland Oy Acquires Suomen Nikkeli Oy II-33
Sandvik Mining Sets Up New Manufacturing Plant at Pune II-33
CAIC Acquires Ferber II-34
CAMEC Acquires International Metal Factors Ltd II-34
Xstrata Acquires Outstanding Stake in Falconbridge II-34
CVRD Offers to Acquire Outstanding Shares of Inco II-34
Hanrui Cobalt Commences Electrolytic Cobalt Cathod Production
Line II-35
Phelps Dodge Conditionally Approves Tenke Fungurume Mining
Project in DRC II-35
Hanrui Develops Specialized Cobalt Powder II-35
Geovic Mining Completes Reverse Transaction With Geovic Finance II-35
First Quantum Minerals Acquires UK based Adastra II-35
CAMEC Builds A Cobalt Carbonate Plant II-36
Sherritt International Gears Up for Capacity Expansion II-36
MDS Nordion Increase Agreement Tenure II-36
Mawson and Independence Form A Joint Venture II-36
CAMEC Signs Pact with Speciality Chemicals Producer II-36
Simberi Acquires Common Shares of New Congo Resources II-36
Nanjing Hanrui Cobalt Purchases 3 Copper-Cobalt Mines in DRC II-36
Liberty Starts Mining at Redstone Mine II-37
Tiger Resources Acquires Kipoi Copper Cobalt Deposit II-37
MDS Nordion Enters Into Log-term Agreement with Rosenergoatom II-37

8. Focus on Select Players II-38
Caledonia Mining Corporation (Canada) II-38
Chambishi Metals Plc (Zambia) II-38
Compagnie de Tifnout Tighanimine (Morocco) II-38
Eramet SA (France) II-38
Eurotungstene Poudres SA (France) II-39
Freeport-McMoRan Copper & Gold Inc. (North America) II-39
H. C. Starck GmbH & Co., KG (Germany) II-39
Minara Resources Limited (Australia) II-39
MMC Norilsk Nickel Group (Russia) II-40
Nanjing Hanrui Cobalt Co. Ltd. (China) II-40
OM Group Inc. (USA) II-41
Osram Sylvania (USA) II-41
QNI Pty Ltd. (Australia) II-42
Sherritt International Corporation (Canada) II-42
Sumitomo Metal Mining Co., Ltd. (Japan) II-42
Umicore (Belgium) II-43
Vale Inco (Canada) II-43
Xstrata Plc (Switzerland) II-44
Zambia Consolidated Copper Mines (ZCCM) (Zambia) II-44

9. Global Market Perspective II-45
Table 9: World Recent Past, Current & Future Market Analysis
for Cobalt by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2000 through 2010 (includes corresponding
Graph/Chart) II-45

Table 10: World Long-term Projections for Cobalt by Geographic
Region - USA, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), and Rest of World Markets Independently Analyzed with
Annual Sales Figures in Metric Tons for Years 2011 through
2015 (includes corresponding Graph/Chart) II-46

Table 11: World 10-Year Perspective for Cobalt by Geographic
Region - Percentage Breakdown of Unit Sales for USA, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), and Rest of
World Markets for Years 2003, 2008 & 2012 (includes
corresponding Graph/Chart) II-47
Cobalt Market by End-Use Segment II-48
Table 12: World Recent Past, Current & Future Analysis for
Cobalt in Adhesives & Dryers by Geographic Region - USA,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), and
Rest of World Markets Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 2000 through 2010 (includes
corresponding Graph/Chart) II-48

Table 13: World Long-term Projections for Cobalt in Adhesives
& Dryers by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) II-49

Table 14: World 10-Year Perspective for Cobalt in Adhesives &
Dryers by Geographic Region - Percentage Breakdown of Unit
Sales for USA, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), and Rest of World Markets for Years 2003, 2008 & 2012
(includes corresponding Graph/Chart) II-50

Table 15: World Recent Past, Current & Future Analysis for
Cobalt in Batteries by Geographic Region - USA, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), and Rest of
World Markets Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 2000 through 2010 (includes
corresponding Graph/Chart) II-51

Table 16: World Long-term Projections for Cobalt in Batteries
by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) II-52

Table 17: World 10-Year Perspective for Cobalt in Batteries by
Geographic Region - Percentage Breakdown of Unit Sales for
USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
and Rest of World Markets for Years 2003, 2008 & 2012
(includes corresponding Graph/Chart) II-53

Table 18: World Recent Past, Current & Future Analysis for
Cobalt in Catalysts by Geographic Region - USA, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), and Rest of
World Markets Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 2000 through 2010 (includes
corresponding Graph/Chart) II-54

Table 19: World Long-term Projections for Cobalt in Catalysts
by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) II-55

Table 20: World 10-Year Perspective for Cobalt in Catalysts by
Geographic Region - Percentage Breakdown of Unit Sales for
USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
and Rest of World Markets for Years 2003, 2008 & 2012
(includes corresponding Graph/Chart) II-56

Table 21: World Recent Past, Current & Future Analysis for
Cobalt in Cemented Carbides by Geographic Region - USA,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) II-57

Table 22: World Long-term Projections for Cobalt in Cemented
Carbides by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) II-58

Table 23: World 10-Year Perspective for Cobalt in Cemented
Carbides by Geographic Region - Percentage Breakdown of Unit
Sales for USA, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), and Rest of World Markets for Years 2003, 2008 &
2012 (includes corresponding Graph/Chart) II-59

Table 24: World Recent Past, Current & Future Analysis for
Cobalt in Hard-Facing & Other Alloys by Geographic Region -
USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
and Rest of World Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) II-60

Table 25: World Long-term Projections for Cobalt in
Hard-Facing & Other Alloys by Geographic Region - USA, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), and Rest of
World Markets Independently Analyzed with Annual Sales Figures
in Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) II-61

Table 26: World 10-Year Perspective for Cobalt in Hard-Facing
& Other Alloys by Geographic Region - Percentage Breakdown of
Unit Sales for USA, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), and Rest of World Markets for Years 2003,
2008 & 2012 (includes corresponding Graph/Chart) II-62

Table 27: World Recent Past, Current & Future Analysis for
Cobalt in Magnets by Geographic Region - USA, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), and Rest of World
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2000 through 2010 (includes
corresponding Graph/Chart) II-63

Table 28: World Long-term Projections for Cobalt in Magnets by
Geographic Region - USA, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), and Rest of World Markets Independently
Analyzed with Annual Sales Figures in Metric Tons for Years
2011 through 2015 (includes corresponding Graph/Chart) II-64

Table 29: World 10-Year Perspective for Cobalt in Magnets by
Geographic Region - Percentage Breakdown of Unit Sales for
USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
and Rest of World Markets for Years 2003, 2008 & 2012
(includes corresponding Graph/Chart) II-65

Table 30: World Recent Past, Current & Future Analysis for
Cobalt in Super Alloys by Geographic Region - USA, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), and Rest of
World Markets Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 2000 through 2010 (includes
corresponding Graph/Chart) II-66

Table 31: World Long-term Projections for Cobalt in Super
Alloys by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) II-67

Table 32: World 10-Year Perspective for Cobalt in Super
Alloys by Geographic Region - Percentage Breakdown of Unit
Sales for USA, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), and Rest of World Markets for Years 2003, 2008 & 2012
(includes corresponding Graph/Chart) II-68

Table 33: World Recent Past, Current & Future Analysis for
Cobalt in Specialty Chemicals by Geographic Region - USA,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) II-69

Table 34: World Long-term Projections for Cobalt in Specialty
Chemicals by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) II-70

Table 35: World 10-Year Perspective for Cobalt in Specialty
Chemicals by Geographic Region - Percentage Breakdown of Unit
Sales for USA, Canada, Japan, Europe, Asia-Pacific (excluding
Japan), and Rest of World Markets for Years 2003, 2008 &
2012 (includes corresponding Graph/Chart) II-71

Table 36: World Recent Past, Current & Future Analysis for
Cobalt in Pigments by Geographic Region - USA, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), and Rest of World
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2000 through 2010 (includes
corresponding Graph/Chart) II-72

Table 37: World Long-term Projections for Cobalt in Pigments
by Geographic Region - USA, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), and Rest of World Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) II-73

Table 38: World 10-Year Perspective for Cobalt in Pigments by
Geographic Region - Percentage Breakdown of Unit Sales for
USA, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
and Rest of World Markets for Years 2003, 2008 & 2012
(includes corresponding Graph/Chart) II-74

Table 39: World Recent Past, Current & Future Analysis for
Cobalt in Other Applications by Geographic Region - USA,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), and
Rest of World Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) II-75

Table 40: World Long-term Projections for Cobalt in Other
Applications by Geographic Region - USA, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), and Rest of World
Markets Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) II-76

Table 41: World 10-Year Perspective for Cobalt in Other
Applications by Geographic Region - Percentage Breakdown of
Unit Sales for USA, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), and Rest of World Markets for Years 2003,
2008 & 2012 (includes corresponding Graph/Chart) II-77


III. MARKET

1. The United States III-1
A.Market Analysis III-1
Current & Future Analysis III-1
Table 42: US Market for Cobalt (2007): Percentage Breakdown
of Consumption by End-Use Market for Adhesives and Dryers,
Batteries, Catalysts, Cemented Carbides, Hard-Facing &
Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others (includes corresponding Graph/Chart) III-1
Cobalt Reserves III-2
A Review of Trade Scenario III-2
Exports III-2
Table 43: US Exports of Cobalt (2006 & 2007): Percentage
Breakdown by Country - Japan, Canada, Belgium, France,
Ireland, United Kingdom, Germany, and Others (Value in US$
Thousand) (includes corresponding Graph/Chart) III-2

Table 44: US Exports of Cobalt Ores and Concentrates (2006
& 2007): Percentage Breakdown by Country - Belgium,
Netherlands, and Others (includes corresponding
Graph/Chart) III-3

Table 45: US Exports of Cobalt Oxides and Hydroxides*
(2006 & 2007): Percentage Breakdown by Country - Japan,
Singapore, Canada, and Others (Value in US$ Thousand)
(includes corresponding Graph/Chart) III-3
Imports III-4
Table 46: US Imports of Cobalt* (2006 & 2007): Percentage
Breakdown by Country - Norway, Russia, Canada, China, and
Others (Value in US$ Thousand) (includes corresponding
Graph/Chart) III-4

Table 47: US Imports of Cobalt Ores and Concentrates
(2007): Percentage Breakdown by Country - China and Taiwan
(Value in US$ Thousand) III-4

Table 48: US Imports of Cobalt Oxides and Hydroxides*
(2006 & 2007): Percentage Breakdown by Country - Belgium,
Finland, China, United Kingdom, and Others (Value in US$
Thousand) (includes corresponding Graph/Chart) III-5
Strategic Corporate Developments III-5
Key Players III-7
B.Market Analytics III-8
Table 49: US Recent Past, Current & Future Market Analysis
for Cobalt by End Use Market - Adhesives and Dryers,
Batteries, Catalysts, Cemented Carbides, Hard-Facing & Other
Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently A nalyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-8

Table 50: US Long-term Projections for Cobalt by End-Use
Segment - Adhesives and Dryers, Batteries, Catalysts,
Cemented Carbides, Hard-Facing & Other Alloys, Magnets,
Super Alloys, Specialty Chemicals, Pigments, and Others
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) III-9

Table 51: US 10-Year Perspective for Cobalt by End Use
Market - Percentage Breakdown of Unit Sales for Adhesives
and Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others for 2003, 2008, &
2012 (includes corresponding Graph/Chart) III-10

2. Canada III-11
A.Market Analysis III-11
Current & Future Analysis III-11
Table 52: Canadian Market for Cobalt (2007): Percentage
Breakdown of Consumption by End-Use Segment for Adhesives
and Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others (includes
corresponding Graph/Chart) III-11
Production III-11
Table 53: Cobalt Market in Canada (2006 & 2007): Mine
Production of Cobalt in Metric Tons III-11
Table 54: Cobalt Market in Canada (2005-2007): Production
of Refined Cobalt in Tonnes (includes corresponding
Graph/Chart) III-12
Trade Scenario III-12
Exports III-12
Table 55: Canadian Exports of Cobalt* (2006 & 2007):
Percentage Breakdown by Country - Norway, Japan, USA,
Netherlands, Singapore, Belgium, and Others (Value in US$
Thousand) (includes corresponding Graph/Chart) III-12

Table 56: Canadian Exports of Cobalt Oxides and
Hydroxides*(2007): Percentage Breakdown by Country - USA,
Belgium, and Korea (includes corresponding Graph/Chart) III-13
Imports III-13
Table 57: Canadian Imports of Cobalt* (2006 & 2007):
Percentage Breakdown by Country - Australia, USA, Japan,
Brazil, Germany, South Africa, and Others (Value in US$
Thousands) (includes corresponding Graph/Chart) III-13

Table 58: Canadian Imports of Cobalt Oxides and
Hydroxides* (2007): Percentage Breakdown by Country -
China, USA, and Others (includes corresponding
Graph/Chart) III-13
Strategic Corporate Developments III-14
Key Players III-17
B.Market Analytics III-19
Table 59: Canadian Recent Past, Current & Future Market
Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-19

Table 60: Canadian Long-term Projections for Cobalt by
End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard-Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-20

Table 61: Canadian 10-Year Perspective for Cobalt by End
Use Market - Percentage Breakdown of Unit Sales for
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others for 2003, 2008, &
2012 (includes corresponding Graph/Chart) III-21

3. Japan III-22
A.Market Analysis III-22
Current & Future Analysis III-22
Production III-22
Table 62: Cobalt Market in Japan (2005-2007): Refined
Cobalt Production in Tonnes (includes corresponding
Graph/Chart) III-22

Table 63: Cobalt Market in Japan (2004-2006): Cobalt
Metal Production in Metric Tons (includes corresponding
Graph/Chart) III-22
Sumitomo Metal Mining Co., Ltd. - A Key Player III-23
Market Overview III-23
Table 64: Japanese Market for Cobalt (2007): Percentage
Breakdown of Consumption by End-Use Market for Adhesives
and Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others (includes
corresponding Graph/Chart) III-23
B.Market Analytics III-24
Table 65: Japanese Recent Past, Current & Future Market
Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons or Years 2000 through 2010
(includes corresponding Graph/Chart) III-24

Table 66: Japanese Long-term Projections for Cobalt by
End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard-Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-25

Table 67: Japanese 10-Year Perspective for Cobalt by End
Use Market - Percentage Breakdown of Unit Sales for
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super
Alloys, Specialty Chemicals, Pigments, and Others for 2003,
2008, & 2012 (includes corresponding Graph/Chart) III-26

4. Europe III-27
A.Market Analysis III-27
Current & Future Analysis III-27
Shipments III-27
Table 68: Cobalt Market in Europe (2004 - 2006): Exports*
in Tonnes by Select Country - Austria, Belgium, Finland,
France Germany, Italy, Netherlands, Norway, Spain, Sweden,
United Kingdom (includes corresponding Graph/Chart) III-27

Table 69: Cobalt Market in Europe (2004 - 2006): Imports*
in Tonnes by Select Country - Austria, Belgium, Finland,
France Germany, Italy, Netherlands, Norway, Spain,
Sweden, United Kingdom (includes corresponding
Graph/Chart) III-28
B.Market Analytics III-29
Table 70: European Recent Past, Current & Future Market
Analysis for Cobalt by Geographic Region - France, Germany,
Italy, UK and Rest of Europe Markets Independently Analyzed
with Annual Sales Figures in Metric Tons for Years 2000
through 2010 (includes corresponding Graph/Chart) III-29

Table 71: European Long-term Projections for Cobalt by
Geographic Region - France, Germany, Italy, UK and Rest of
Europe Markets Independently Analyzed with Annual Sales
Figures in Metric Tons for Years 2011 through 2015
(includes corresponding Graph/Chart) III-29

Table 72: European Recent Past, Current & Future Market
Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-30

Table 73: European Long-term Projections for Cobalt by
End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard-Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-31

Table 74: European 10-Year Perspective for Cobalt by
Geographic Region - Percentage Breakdown of Unit Sales for
France, Germany, Italy, UK and Rest of Europe Markets for
Years 2003, 2008, & 2012 (includes corresponding
Graph/Chart) III-32

Table 75: European 10-Year Perspective for Cobalt by End
Use Market - Percentage Breakdown of Unit Sales for
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super
Alloys, Specialty Chemicals, Pigments, and Others for 2003,
2008, & 2012 (includes corresponding Graph/Chart) III-33

4a. France III-34
A.Market Analysis III-34
Current & Future Analysis III-34
Production III-34
Table 76: Cobalt Market in France (2005-2007): Production
of Refined Cobalt in Tonnes (includes corresponding
Graph/Chart) III-34
Strategic Corporate Development III-34
Key Players III-34
B.Market Analytics III-35
Table 77: French Recent Past, Current & Future Market
Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-35

Table 78: French Long-term Projections for Cobalt by End-Use
Segment - Adhesives and Dryers, Batteries, Catalysts,
Cemented Carbides, Hard-Facing & Other Alloys, Magnets,
Super Alloys, Specialty Chemicals, Pigments, and Others
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) III-36

Table 79: French 10-Year Perspective for Cobalt by End Use
Market - Percentage Breakdown of Unit Sales for Adhesives
and Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others for 2003, 2008, &
2012 (includes corresponding Graph/Chart) III-37

4b. Germany III-38
A.Market Analysis III-38
Current & Future Analysis III-38
H. C. Starck GmbH & Co., KG - A Key Player III-38
B.Market Analytics III-39
Table 80: German Recent Past, Current & Future Market
Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-39

Table 81: German Long-term Projections for Cobalt by End-Use
Segment - Adhesives and Dryers, Batteries, Catalysts,
Cemented Carbides, Hard-Facing & Other Alloys, Magnets,
Super Alloys, Specialty Chemicals, Pigments, and Others
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015(includes corresponding
Graph/Chart) III-40

Table 82: German 10-Year Perspective for Cobalt by End Use
Market - Percentage Breakdown of Unit Sales for Adhesives
and Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others for 2003, 2008, &
2012 (includes corresponding Graph/Chart) III-41

4c. Italy III-42
A.Market Analysis III-42
Current & Future Analysis III-42
B.Market Analytics III-42
Table 83: Italian Recent Past, Current & Future Market
Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-42

Table 84: Italian Long-term Projections for Cobalt by
End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard-Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-43

Table 85: Italian 10-Year Perspective for Cobalt by End Use
Market - Percentage Breakdown of Unit Sales for Adhesives
and Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys, Specialty
Chemicals, Pigments, and Others Markets for 2000, 2005 &
2010 2003, 2008, & 2012 (includes corresponding Graph/Chart) III-44

4d. The United Kingdom III-45
A.Market Analysis III-45
Current & Future Analysis III-45
Strategic Corporate Developments III-45
B.Market Analytics III-46
Table 86: UK Recent Past, Current & Future Market Analysis
for Cobalt by End Use Market - Adhesives and Dryers,
Batteries, Catalysts, Cemented Carbides, Hard-Facing &
Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-46

Table 87: UK Long-term Projections for Cobalt by End-Use
Segment - Adhesives and Dryers, Batteries, Catalysts,
Cemented Carbides, Hard-Facing & Other Alloys, Magnets,
Super Alloys, Specialty Chemicals, Pigments, and Others
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) III-47

Table 88: UK 10-Year Perspective for Cobalt by End Use
Market - Percentage Breakdown of Unit Sales for Adhesives
and Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others for 2003, 2008, &
2012 (includes corresponding Graph/Chart) III-48

4e. Rest of Europe III-49
A.Market Analysis III-49
Current & Future Analysis III-49
Production in Select Countries III-49
Table 89: Cobalt Market in Belgium (2005-2007): Production
of Refined Cobalt in Tonnes (includes corresponding
Graph/Chart) III-49
Table 90: Cobalt Market in Finland (2005-2007): Production
of Refined Cobalt in Tonnes (includes corresponding
Graph/Chart) III-49
Table 91: Cobalt Market in Norway (2005-2007): Production
of Refined Cobalt in Tonnes (includes corresponding
Graph/Chart) III-50
Table 92: Cobalt Market in Russia (2006 & 2007): Mine
Production of Cobalt in Metric Tons III-50
Strategic Corporate Developments III-50
Key Players III-51
B.Market Analytics III-53
Table 93: Rest of Europe Recent Past, Current & Future
Market Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-53

Table 94: Rest of Europe Long-term Projections for Cobalt
by End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard- Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-54

Table 95: Rest of Europe 10-Year Perspective for Cobalt by
End Use Market - Percentage Breakdown of Unit Sales for
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super
Alloys, Specialty Chemicals, Pigments, and Others Markets
for 2000, 2005 & 2010 2003, 2008, & 2012 (includes
corresponding Graph/Chart) III-55

5. Asia Pacific III-56
A.Market Analysis III-56
Current & Future Analysis III-56
B.Market Analytics III-56
Table 96: Asia-Pacific Recent Past, Current & Future Market
Analysis for Cobalt by Geographic Region - China and Rest
of Asia-Pacific Markets Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-56

Table 97: Asia-Pacific Long-term Projections for Cobalt by
Geographic Region - China and Rest of Asia-Pacific Markets
Independently Analyzed with Annual Sales Figures in Metric
Tons for Years 2011 through 2015 (includes corresponding
Graph/Chart) III-57

Table 98: Asia-Pacific Recent Past, Current & Future Market
Analysis for Cobalt by End Use Segment - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-58

Table 99: Asia-Pacific Long-term Projections for Cobalt by
End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard-Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-59

Table 100: Asia-Pacific 10-Year Perspective for Cobalt by
Geographic Region - Percentage Breakdown of Unit Sales for
China and Rest of Asia-Pacific Markets for 2000, 2005 & 2010
2003, 2008, & 2012 III-60

Table 101: Asia-Pacific 10-Year Perspective for Cobalt by
End Use Market - Percentage Breakdown of Unit Sales for
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others for 2003, 2008, &
2012 (includes corresponding Graph/Chart) III-60

5a. China III-61
A.Market Analysis III-61
Current & Future Analysis III-61
Overview III-61
Production III-62
Table 102: Cobalt Market In China (2006 & 2007): Mine
Production of Cobalt in Metric Tons III-62
Table 103: Cobalt Market In China (2005-2007): Production
of Refined Cobalt in Tonnes (includes corresponding
Graph/Chart) III-62
Consumption III-62
End-Use Perspective III-63
Electrolytic Cobalt Price to Come Down in China III-63
Table 104: Cobalt Shipments In China (2006): Imports* in
Value (In US$ Thousands) and Volume (In Metric Tons) III-63
Types of Cobalt Alloys III-63
Strategic Corporate Developments III-64
Key Players III-66
B.Market Analytics III-67
Table 105: Chinese Recent Past, Current & Future Market
Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides, Hard-Facing
& Other Alloys, Magnets, Super Alloys, Specialty Chemicals,
Pigments, and Others Independently Analyzed with Annual
Sales Figures in Metric Tons for Years 2000 through 2010
(includes corresponding Graph/Chart) III-67

Table 106: Chinese Long-term Projections for Cobalt by
End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard-Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-68

Table 107: Chinese 10-Year Perspective for Cobalt by End
Use Market - Percentage Breakdown of Unit Sales for
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others Markets for 2000,
2005 & 2010 2003,2008, & 2012 (includes corresponding
Graph/Chart) III-69

5b. Rest of Asia-Pacific III-70
A.Market Analysis III-70
Current & Future Analysis III-70
Australia III-70
Production III-70
Table 108: Cobalt Market in Australia (2006 & 2007): Mine
Production of Cobalt in Metric Tons III-70

Table 109: Cobalt Market in Australia (2004-2006):
Production of Refined Cobalt in Metric Tons (includes
corresponding Graph/Chart) III-70
Strategic Corporate Developments III-71
Key Players III-72
B.Market Analytics III-73
Table 110: Rest of Asia-Pacific Recent Past, Current &
Future Market Analysis for Cobalt by End Use Market -
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others Independently
Analyzed with Annual Sales Figures in Metric Tons for Years
2000 through 2010 (includes corresponding Graph/Chart) III-73

Table 111: Rest of Asia-Pacific Long-term Projections for
Cobalt by End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard-Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015 (includes
corresponding Graph/Chart) III-74

Table 112: Rest of Asia-Pacific 10-Year Perspective for
Cobalt by End Use Market - Percentage Breakdown of Unit
Sales for Adhesives and Dryers, Batteries, Catalysts,
Cemented Carbides, Hard-Facing & Other Alloys, Magnets,
Super Alloys, Specialty Chemicals, Pigments, and Others
Markets for 2000, 2005 & 2010 2003, 2008, & 2012 (includes
corresponding Graph/Chart) III-75

6. Rest of World III-76
A.Market Analysis III-76
Current & Future Analysis III-76
Strategic Corporate Developments III-76
Key Players III-82
Zambia Consolidated Copper Mines (ZCCM) III-82 B.Market
Analytics III-83
Table 113: Rest of World Recent Past, Current & Future
Market Analysis for Cobalt by End Use Market - Adhesives and
Dryers, Batteries, Catalysts, Cemented Carbides,
Hard-Facing & Other Alloys, Magnets, Super Alloys, Specialty
Chemicals, Pigments, and Other Independently Analyzed with
Annual Sales Figures in Metric Tons for Years 2000 through
2010 (includes corresponding Graph/Chart) III-83

Table 114: Rest of World Long-term Projections for Cobalt
by End-Use Segment - Adhesives and Dryers, Batteries,
Catalysts, Cemented Carbides, Hard- Facing & Other Alloys,
Magnets, Super Alloys, Specialty Chemicals, Pigments, and
Others Independently Analyzed with Annual Sales Figures in
Metric Tons for Years 2011 through 2015(includes
corresponding Graph/Chart) III-84

Table 115: Rest of World 10-Year Perspective for Cobalt by
End Use Market - Percentage Breakdown of Unit Sales for
Adhesives and Dryers, Batteries, Catalysts, Cemented
Carbides, Hard-Facing & Other Alloys, Magnets, Super Alloys,
Specialty Chemicals, Pigments, and Others Markets for 2000,
2005 & 2010 2003, 2008, & 2012 (includes corresponding
Graph/Chart) III-85


IV. COMPETITIVE LANDSCAPE


-Agnico Eagle Mines Ltd (Canada)
-Allegiance Mining NL (Australia)
-America Mineral Fields, Inc (UK)
-Anatolia Minerals Development Ltd (Turkey)
-Anglo American PLC (UK)
-Anglo American Platinum Corporation Limited (South Africa)
-Glencore International AG (Switzerland)
-Zambia Copper Investments, Ltd (ZCI)
(Bermuda)
-Anglovaal Mining Ltd (AVMIN)
(South Africa)
-Argosy Minerals, Inc (Canada)
-Asian Mineral Resources (Vietnam)
-Belmont Metals, Inc (USA)
-BHP Billiton Group (Australia)
-QNI Pty, Ltd (Australia)
-WMC Resources Ltd (Australia)
-Binani Industries, Ltd, (Mumbai)
-Caledonia Mining Corporation (Canada)
-Celtic Minerals Ltd (Canada)
-Ci