sentences:  Cobalt is also used in magnetic alloys and in cutting and wear-resistant materials such as cemented carbides.The chemical industry consumes significant quantities of cobalt in a variety of applications including catalysts for petroleum and chemical processing; drying agents for paints and inks; ground coats for porcelain enamels; decolorant for ceramics and glass; and pigments for ceramics, paints, and plastics.The country possesses 80% of the world's cobalt reserves.