International Tin Council

Abstract

At a meeting of the International Tin Council in London on May 2 and 3, 1960, it was decided to set the total export quota of the six producing member countries for the third quarter of 1960 at the same amount as for the second quarter, namely, 37,500 tons. At the same meeting, the votes of the producing countries participating in the Agreement were reallocated, effective July 1, 1960, the percentages and the changes since 1959 being as follows: Federation of Malaya, 38.20 percent (plus 0.45 percent); Indonesia, 19.00 percent (plus 0.10 percent); Bolivia, 18.43 Percent (minus 0.97 percent); Belgian Congo, 9.17 percent (plus 0.12 percent); Thailand, 9.00 percent (plus 0.20 percent); and Federation of Nigeria, 6.20 percent (plus 0.10 percent). The Council did not renew the authority granted on previous occasions to the buffer stock manager, who reported at the end of April that there were 10,050 long tons of tin metal in the buffer stock as of December 31, 1959, to operate within the middle price range of the Agreement during the third quarter of 1960.