Cobaltite is a brilliant blue stone (notably, the only stone of its color) found as veins in numerous environments. Despite its appearance (showing up as £ unmined and * mined), it is not a usable ore.
Cobaltite is particularly dense, making it useful for stone-fall traps and as catapult ammunition.
In Real Life
Cobaltite is an ore of cobalt, a metal not modeled in Dwarf Fortress. Interestingly, the name derives from the word kobold.
A chunk of cobaltite rock.
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Humans are known to mistake cobaltite for more valuable ores, suffering from severe bouts of fun from attempting to smelt it. Dwarves of course find this endlessly amusing, especially when the humans inevitably claim that kobolds tampered with the ore.