IMF expresses concern over DR Congo debt to China (34 % of known global cobalt reserves)

afp ^ | 9/25/08 | afp

[Flavius]

A senior official with the International Monetary Fund expressed concern over the Democratic Republic of Congo's levels of debt to China, in a report released Wednesday after a 18-day visit here.

[Flavius]

Cobalt (Co) is a strategic and critical metal used in many diverse commercial, industrial, and military applications. The largest use of cobalt is in superalloys, which are used to make parts for gas turbine aircraft engines. Cobalt is also used to make magnets; corrosion- and wear-resistant alloys; high-speed steels; cemented carbides (also called hardmetals) and diamond tools; catalysts for the petroleum and chemical industries; drying agents for paints, varnishes, and inks; ground coats for porcelain enamels; pigments; battery electrodes; steel-belted radial tires; and magnetic recording media.

http://minerals.usgs.gov/minerals/pubs/commodity/cobalt/index.html

Its principal use is in super alloys for jet engine parts.

[Quix]

Principle use?

I’d have thought that blue ceramic glazes would count for a great deal MORE cobalt per pound.

It’s a very favorite ingredient of mine.

[dynachrome]

China will the mafia loan sharks look like little girls.

“democratic republic” of the Congo

yeah, right.

[Flavius]

military economic colonization at a trickle

[dynachrome]

Just make sure the dictators and the local armies get paid. no problem.

European nations can’t do anything in Africa (except hand out more welfare) with out being “racist”.

[stefanbatory]

just like the democratic republic of korea...the deutsches demokratisches republik...