CLEARANCE FOR(Classified), DATE OF INFORMATION 5 FEBRUARY 1954(Sanitized) DATE OF INFORMATION 20 JANUARY 1954

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP63-00084A000200060064-9
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 3
• Document Creation Date: December 12, 2016
• Document Release Date: July 10, 2000
• Sequence Number: 64
• Publication Date: March 1, 1954
• Content Type: MF

 Approved For Refease-2002/07/31 : CIA=RDP63-00084AO00200060064-9
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The following comments may be pertinent; 25X1 A2g
ao The price of the copper reported in 0 approximately
$800 a ton, is considerably higher than the current market price of
approximately $650 per ton f.o.b., New York, even assuming the high price'
is cif Rostock. (It is assumed that amounts reported are in metric tons
bQ The amount of the Chilean copper stockpile is currently
estimated to be approximately 150,,000 metric ' tons. Of this, about 90,000
tons are reported to be in the United States. Title to the copper is in the
name of the Banco Centrals, to which the companies have sold their production
since May 19520 Actually the companies have continued to make the sales,
retaining the basic price of 265 cents.-per pound (the sale price to the
Banco Centrals) and transferring the over-price to the account of the Banko
Santiago Dmli90, 16 Dec 53 reported the ruling that the Banco Centrals could
contract with the American companies for sale of stocks in the US at the
?30 price only if replacements were made from current production-3, thus
gradually transferring the location of all the unsold inventories to Chile0
co All copper in the United States, including that in bond, is
wider export control0
do- In view of points b and c and the apparent contradictions in
tits two 'communications, is it possible that the amounts reportedly to be
shipped from the New York stockpile are actually to be shipped from Chile,
with a corresponding amount released for sale in the United States? Chile
produces some electrolytic copper locally;. over a period of time it
should be,_possible to produce sufficient quantities for successive 5000
ton , installments.
1 Suggestions for the development of further intelligence0
25X1 A6a ' afl for information on Sierens and his firm,
including a WTD0
b. Determination of current location and amount of Chilean owned
stockpile in the US.
0o Survey of withdrawals from the stockpile since November 1,
including-information on type of copper, amount, sale price, consignee,
destination,
do A continuing survey until stockpile is disposed ofo
eo Check of applications: for export licenses for shipment of large
amounts of copper (5000 tons and up to European ports m since November 1 and
on a continuing basis unless such information can be determined in the surveys
suggested in items'c and do
Approved For Release 20( /1.iF*Fl-RDP63-00084A000200060064-9
 Approved For Release 2002/07/31 CIA-RDP63-00084AO00200060064-9
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5, It is requested that this Agency be advised of use of the foregoing
infoa Lion by the addressees of this memorandum,
25X1A9a
Enclosuros (2)
Executive Secretary
Intelligence Working Group
Approved For Release 2002/07/ 14tkkk 3-00084A000200060064-9