Business & Finance: Chemical Magic

Another strategic metal which has been in great shortage is cobalt, vital for hardening jet engines to resist intense heat. Last week the ingenuity of U.S. industry promised to boost the supply of cobalt 40% by 1953. Source of the promise: a new chemical refining process developed by American Cyanamid Co., fourth biggest U.S. chemical company.

While the U.S. has deposits of cobalt ore, much of it is low-grade and expensive to recover. As a result, 90% of the cobalt consumed by the U.S. (more than 8,200,000 Ibs. a year) comes from Africa, which has abundant supplies. Cyanamid's process, developed by its...

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