Volatile Fire

Volatile Fire is in use similar to Primal Fire of Burning Crusade or Eternal Fire of  Wrath of the Lich King.

Source
It has a chance to drop while mining any of the new deposits introduced in Cataclysm. It also drops (rarely) from fire elementals and may be fished (rarely) from lava pools. However from Pool of Fire that spawn in lava, there is a 100% drop rate.

Alchemy

 * Transmute: Truegold

Blacksmithing

 * Obsidium Bladespear
 * Fire-Etched Dagger
 * Bloodthirsty Pyrium Bracers
 * Bloodthirsty Pyrium Gauntlets
 * Bloodthirsty Pyrium Belt
 * Bloodthirsty Pyrium Boots
 * Bloodthirsty Pyrium Shoulders
 * Bloodthirsty Pyrium Breastplate
 * Bloodthirsty Pyrium Helm
 * Bloodthirsty Pyrium Legguards

Engineering

 * Volatile Thunderstick
 * Heat-Treated Spinning Lure

Inscription

 * Manual of the Planes
 * Runed Dragonscale
 * Battle Tome

Jewelcrafting

 * Jeweler's Ruby Monocle
 * Eye of Many Deaths
 * Ring of Warring Elements

Leatherworking

 * Darkbrand Gloves
 * Scorched Leg Armor
 * Cloak of Beasts
 * Twilight Scale Chestguard
 * Razor-Edged Cloak
 * Draconic Embossment - Strength
 * Bloodthirsty Dragonscale Bracers
 * Bloodthirsty Dragonscale Shoulders
 * Bloodthirsty Leather Bracers
 * Bloodthirsty Leather Gloves
 * Bloodthirsty Scale Bracers
 * Bloodthirsty Scale Gloves
 * Bloodthirsty Wyrmhide Belt
 * Bloodthirsty Wyrmhide Bracers
 * Bloodthirsty Dragonscale Boots
 * Bloodthirsty Dragonscale Gloves
 * Bloodthirsty Leather Boots
 * Bloodthirsty Leather Shoulders
 * Bloodthirsty Scale Belt
 * Bloodthirsty Scale Boots
 * Bloodthirsty Wyrmhide Boots
 * Bloodthirsty Wyrmhide Gloves
 * Assassin's Chestplate
 * Charscale Leg Armor

Tailoring

 * Enchanted Spellthread
 * Deathsilk Gloves
 * Deathsilk Robe
 * Swordguard Embroidery
 * Emberfire Bracers
 * Fireweave Bracers
 * Black Embersilk Gown
 * Emberfire Shoulders
 * Emberfire Belt
 * Fireweave Belt
 * Fireweave Shoulders
 * Dream of Ragnaros
 * Emberfire Gloves
 * Fireweave Boots
 * Emberfire Boots
 * Fireweave Gloves
 * Emberfire Cowl
 * Emberfire Pants
 * Emberfire Robe
 * Fireweave Cowl
 * Fireweave Pants
 * Fireweave Robe