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Tin - introduction of export controls



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9116-7

FOR PRESS

JOINT STATEMENT BY THE DEPUTY PRII/t MINISTER AND MINISTER FOR TRADE AND INDUSTRY (MR. J. McEWEN) AND THE MINISTER FOR NATIONAL DEVELOPMENT

HON. DAVID FAIRBAIRN. D.F.C., M.P.)

TIN - INTRODUCTION OF EXPORT CONTROLS

The Deputy Prime Minister and Minister for

Trade and Industry (Mr. J. McEwen) and the Minister for

National Development (Mr. Fairbairn) announced today

that the Government had decided to. introduce export

controls on tin and tin concentrates, for reasons

arising from Australia's membership of the International

Tin Agreement.

The Ministers stated that the International

Tin Agreement is designed to achieve a market price

for tin within the range of £1,280 - £1,630 stg. per

ton. Supplies of tin on to the market are regulated

by means of a buffer stock mechanism and, if necessary,

by export controls.

For some time the price of tin has been at

the lower end of the price range and has been supported

by the buying operations of the Buffer Stock Manager

to the benefit of all producers.

On 18th September, the International Tin

Council, noting the persistent weakness in the price

of tin, introduced a period of export controls which

apply automatically to the six producer members, Bolivia

Congo D.R., Indonesia, Malaysia, Nigeria and Thailand.

2.

M

These controls will be reviewed at the end of this

year.

Australia has participated in the

International Tin Agreement since 1956 as a consumer

member. As a result of a major expansion programme

in recent years Australia has become a small net

exporter of tin. Under the provisions of the Agreement

Australia has been requested by the Council to co—operate

by way of exercising some restraint on its exports of

tin.

It is intended that the export control will

have immediate effect and the necessary regulation will

be promulgated in the near future. In the meantime

export quotas will be determined and all exporters of

tin or tin concentrates should provide to the Secretary,

Department of National Development, Box 850, P.O.

Canberra City, A.C.T. 2601 the following details by 12th

December:

(1) quantities and assay values of individual

export shipments in 1967 and up to 6th

December, 1968; and

(2) proposed exports, if any, from 7th — 31st

December, 1968.

Each export shipment will require a restricted

goods export permit, which may be issued by the Department

of National Development upon application.

Canberra, 6th December, 1968.

91/68T