Document Type: 
Document Number (FOIA) /ESDN (CREST): 
Release Decision: 
Original Classification: 
Document Page Count: 
Document Creation Date: 
December 12, 2016
Document Release Date: 
July 15, 2002
Sequence Number: 
Case Number: 
Publication Date: 
August 26, 1974
Content Type: 
PDF icon CIA-RDP82S00697R000300010012-3.pdf785.4 KB
Approved For Release 2002/08/14: CIA-RDP82S00697R000300010012-3 111- N AT 10 N S THIRD CO'le'IFERENCE ON THE SEA FIRST COMMITTEE Distr. LIMITED -A/CONF.62/C.1/L.11 26 August 1971 ENGLISH ORIGINAL: SPANISH CHILE : WORKING PAPER ON THE ECONOMIC IMPLICATIONS FOR THE DEVELOPING COUNTRIES OF THE EXPLORATION OF THE SEA-BED BEYOND THE LIMITS OF JURISDICTION The topic with which ws are concerned has been debated both in the First Committee, when the representatives of the Secretary-General and of UNCTAD took part, and in the seminar that was organized on this question, which enabled a free, off-the-record and thorough discussion to be held. The seminar, which all delegations had the opportunity to attend, the questions put to the representatives of UNCTAD and of the Secretary-General, and their answers, the very comprehensive reports submitted to the Conference by the Secretary-General and by UNCTAD, and the summary (A/CONF.62/C.l/L.2) which the Chairman had prepared for the First Committee constitute a body of important information which has enabled delegations sufficiently to form their own views on this topic. We must try to deal with the whole subject of the so-called economic implications in an orderly and systematic manner, for it is something with which we have been concerned since 1968. It must first be asked: what are the economic implications? Here we are dealing with a cliche of the same kind as the term "rules and regulations" and many others. What are the economic implications? Since 1968, when the Sea-Bed Committee met for the first time, it has been said that the new submarine products will necessarily affect the prices and markets of land-source supplies. If a new source of production appeared on the scene, it was only logical that it should cause some drop in prices and have some impact on the market; thus it would be harmful for the countries producing the same minerals, particularly for the developing countries, and that harmful effect had to be prevented or efforts must be made-to minimize it. At that time in 1968 there began to be talk of the so-called economic:implications of future exploitation and there was included in the report of the Sea-Bed Committee a principle which is always reiterated every year. The principle is that the harmful effects which future production might cause or initiate in the economies of the producing developing countries should be minimized. This principle has been repeated in all the reports of the Sea-Bed Committee since 1968 and it is included in the solemn declaration of principles proclaimed by the twenty- fifth anniversary session of the General Assembly in resolution 2749 (XXV) which was adopted by consensus. That same session also adopted resolution 2750 A (XXV) in which the Secretary-General was requested, in co-operation with UNCTAD, to keep this matter C?-1874 Approved For Release 2002/08/14: CIA-RDP82S00697R000300010012-3 English Approved For Release 2002/08/14: CIA-RDP82S00697R000300010012-3 Page 2 under review and to propose solutions; the report of-the Secretary-General is a result of that resolution. For its part, UNCTAD adopted at its third session, held at Santiago, Chile, resolution 51 (3) which uses practically the same language as the General Assembly resolution; accordingly, UNCTAL h s issued reports and sent two representatives to this Conference. By taking up this topic and dealing with it - it is an item on its agenda -- the Conference is in fact repeating and ratifying the mandate which it has received to deal with this principle and give it a precise formulation. The principle of minimizing the harmful implications of future exploitation coexists with another principle -- that of the cormnon heritage of mankind. The principle of the common heritage of mankind implies that there is going to be exploitation, subject to a regime and an interna,tion.al authority, and that this exploitation is:going to benefit mankind, i.e. all States. Thus the principle of minimization should be understood in conjunction with the principle of the coimnon heritage. .I must now get down to brass tacks. In the first place, which are the exploitable minerals of the sea-bed? We have been tending to give priority to manganese nodules containing manganese, ::. cobalt, nickel and copper, for the simple reason that the prospects of exploiting such nodules have been imminent, because..extensive exploration activities have already been carried out, and .because certain steps identifiable with incipient exploitation have been taken despite the existence of amoratorium which was already implicit in General Assciiibly resolution 2749 (xxV) establishirig'the principles governing the sea-bed. However, manganese, copper, nickel and cobalt .obtained from manganese nodules are not the only minerals involved or the only ones to be exploited. The study prepared by the Secretary-General for the Economic and Social Council,_entitled"Mineral Resources of the Sea", provides a clear indication as to which minerals are involved. In addition to manganese nodules, petroleum and gas should not be overlooked. It is not thy intention to go into or prejudge the question of national jurisdiction, but as the Secretary.-General's study established, petroleum is to be found not only on the continental shelf but also in various ocean basins, among them the Gulf of Mexico. In the opinion of a. University of Miami geophysicist, recently reported in Time magazine, there could be hundreds of sites in th-- ocean depths which contain petroleum and gas A recent issue of The New York Tires contained a report on the project known as "FAMOUS" which was carried out jointly by the United States and France. While exploring the-mid-Atlantic sea-bed to study a series of geological phenomena, the project discovered geysers, upswellings of manganese, and manganese ore in its pure state. The project has also studied and examined the so-called metalliferous muds existing in different areas of the world, especially in the Red Sea, which contain zinc; iron, silver, gold and copper. The sea-bed also contains tin, diamonds, metalliferous sands and sediments, coal, gold, iron, phosphate and phosphorite. Thus the mineral content of the sea-bed is not limited to manganese nodules alone. Which countries could therefore be affected? Almost all of the developing countries. There is not a. single one of the ninety-odd developing countries (perhaps their number already exceeds 100) which is not a producer of one of those minerals. But apart from this, it has been said that the exploitation of manganese nodules would affect only five easily identifiable countries. According to document A/AC.138/36, prepared I... Approved For Release 2002/08/14: CIA-RDP82S00697R000300010012-3 Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 A/CONF.62/C.1/L.11 English Page 3 by the Secretary-General in ,1971, there-are two categories of States which would be affected: those whose economies would be profoundly affected and those which would be simply- affected. With regard to copper., Zambia, Zaire, Peru, Chile, the Philippines and Uganda would be substantially affected. Haiti, Bolivia, Nicaragua, Mexico, Morocco,-Cuba, the Republic of Korea and India would be affected to some degree. With regard to manganese, Gabon, Ghana, Brazil, India and China would be seriously affected, while Guyana, the Ivory Coast and the Philippines would be affected to some degree. .Wi:th.regard to nickel, Cuba, Indonesia, Nvewww Caledonia would be substantially affected, while the Philippines, Cuatemala and the Dominican Republic would be affected to some degree. With. regard to cobalt; Zaire, Zambia and -iorocco would. be substantially affected, while New Caledonia and Cuba would be affected to some degree. As can be seen, the list contains. pore than 30 countries. What is the true position with regard to the exploitation of the nodules? Firstly, the sea-bed resources are adequate to.cover world demand for the most important minerals for centuries, even if there were no land-based,production. Secondly, the great maritime Powers have explored all:thebeeans_for manganese nodules and are well aware of their existence; the.places wherelth.e minerals are-.richest in manganese nodules are well known; there are not on1.y :one but four or?fivehighly developed methods of extraction which have been described in some detail in the Secretary-General's report; there are sophisticated metallurgical'mineral-sieparating.systems; transport and marketing, systems have already been studied.there is intensive research into the economic potential of the nodules; several'eompanies from.most of the Western industrialized countries have invested large sums (each group of companies.- and there are at least si.x of them - has invested between X100 million and $$3200 million) in exploration for the nodules; technology is.developing at a fantastic rate-and substantial ,progress is being made in undersea ininerologyevery year, as anyone who has attended marine science and technology congresses in, the. United States knows; economists have - also established that the commercial exploitation of minerals, and particularly of. nodules, will be profitable. Certain activities, such as those carried out by the ship belonging to the American Howard Hughes, are difficult to distinguish from the early stages of a process of exploitation. 'A bill has also been submitted to the congress of an important industrialized nation authori,,-,,.inLc:r that nation, in agreement with others, to grant licences in the area beyond national jurisdiction, withcut reference to the United Nations, the Conference or the international community. in other words, this would authorize the establishment of a: regime among the developed countries under which they would share the resources:of the sea-bed. P.11.the foregoing shows:that the sea-bed is exploitable, and. exploitable in the very near future. That is the true situation. 11hat are the economic implications of this situation? We have before us two basic studies, that of UNCTAD and that of the Secretariat. Both are summarized in document A/CONF.62/C.1/I.2 and have been.explained extremely clearly and in detail by the representatives of UNCTAD and of the Secretariat. Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 A/COW?.621C.llLiRproved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 ;srglish Page i+ The UNCTAD document says that, i:' a new source of production is exploited, this v ill necessarily have adverse effects on the producers of land-based minerals. The report says that this is bound to l: ac. to a reduction in prices, because the price of t1, J_eec!.?base!! prod l?c-;s 7:use either decrease or increase less than it normally would. if the increase .is less than norn1a:l,,'her-e must obviously be adverse effects in any case, since., the prices of 7r:x?rmaterials - other raw materials such as food products, ',ctrnleurn, et,!. are rising conti,iderably. However large the volume of production, tf IC AD conc:- u(.es that there. must be adverse effects on the developing producer countries. Since their ex ior. t a~-ice t all the copper, much of the manganese and cobalt and a large proportion of the nickel in the world, they would be the most affected. The Secretariat holds that there will be adverse effects, that there will be some short-term adverse effects on cobalt, manganese and nickel, and that there will be other long-term adverse effects on copper. With respect to the magnitude of the adverse effects, there are numerical -i-inates in the UNCTA) stud- 5, although there are no precise estimates in the study by 01- Secretary-General, The UNCTAD study calculates, for 1980, that the income of the developing countries, with respect to nodules, may decrease by $360 million, erh e the total income of the international authority, in the same period, would be prat-:ically the same. In other words, the producing developing countries would be pa..i.n th' authority fully with the adverse effects which they would suffer. The Secretariat :rakes overall estimates which are based on the same UNCTAD statistics; it (toes noF reach numerical conclusions, but its estimates are not inconsistent with those just made with respect to the authority. For that reason, it is clear that there will be adverse effects and the only ratter to discussed is their magnitude. Various criteria have been put forward to deal with the adverse effects and we have established that it is an accepted principle that we have to minimize the negative implications which such production might have on land-based production. Now, what needs to be established is the means which we should lay down in the treaty and what :ensures the international authority- might adopt. The documents of jNcT;D; the Secretariat and the seminar were based on two possible approach's : he compensatory approach and the preventive approach. The compensatory approach is general_y rejected, both by UNCTAD and by the Secretary-General, as impractical, b.icausc; he auti,ority's income would certainly not be sufficient to provide the necessary comer%nsa,ti.on, and also as difficult and cumbersome. The Secretariat contemplate:: it only marginally for the cases of manganese and cobalt, as- a supplementary criterion. The second metho1 is the ~:reventive one and, in that respect, four major areas have been suggested, The :"i.rst is the regulation and control of production which would be c,tercised by the authority. UNCTAD states that, for this method to be effective, the authority -ouid have to control production, sales and prices and argues that these measures or the powers of the authority will be necessary in any event to effect a cert;o:n regulation because flexibility would be required seeing that the technological and economic conditions c.r?e changi.,-g daily; the Secretariat also emphasizes this fle-1.ibility. /. Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 Approved For Release 2002/08/14: CIA-RDP82S00697R000300010012-3 A/CONF.62/C.l/L.ll English Page 5 The second approach was suggested by Mr. Arsenis; it would involve a general agreement on primary commodities from the land and the sea; that is the criterion which is being discussed in the Economic and Social Council and in UNCTAD,and it is the criterion which was suggested in the special session of the General Assembly on raw materials held in New York. The criterion is very interesting, but it will obviously take many years for any general and world-wide agreement between producers and consumers on primary commodities to be negotiated. A third criterion suggested by UNCTAD is that of minimum prices. A fourth criterion, developed in the report of the Secretary-Generals is the so-called complementary criterion, namely, that sea-bed production should be limited to meeting the growth in demand for minerals in short supply. This criterion is being thoroughly siudied with respect to the demand for nickel because nickel is expecte4 to be the principal metal recovered from manganese nodules and it is suggested in the report of the Secretary- General that new production should keep pace with ipcreases in'demand for nickel. Thus we have four distinct approaches - four options open to us, each of'great interest and all of which may be co-ordinated. A tiir&and fourth criterion presented in the studies before us is the need in every case to conserve mineral weaJ.th, that is to say the need to refrain from exploiting it all at once and instead to scat aside certain areas so that more countries can join in submarine production as their technology improves. Failing that, these studies maintain that preferences or additional incentives should not be given to sea-bed production over land-based production. These are the preventive or compensatory approaches suggested in the studies before us. We have therefore established, Mr. Chairman, that there will be submarine production, that this submarine production will have adverse effects --the extent-of wIieh has yet to be evalued - that there is one undisputed principle, namely, minimization, that all we have to discuss is the measures required to implement it, and that them: exist certain criteria for putting this principle into practice. In the recent seminar, Mr. Engo,the Chairman of the Committee, summarized the proceedings. He said: first, that the adverse effects that would be suffered by .land-based producers were clearly established, and second, that there was the question as to what the international community should do. He went on to say that i t must take effective measures which would ensure, on the one hand, that future exploitation was not paralysed and, on the other, that sea-bed production was not counter-productive and did not greatly harm the developing countries or lessen the benefits they were entitled to expect. He also said that a formula or principle must be found and concluded that the authority must be able to adopt measures and be invested with sufficient arid full powers to ensure its effectiveness. He ended by saying that the authority must be equipped with a technical body and should keep the matter under review and adopt measures. /. Approved For Release 2002/08/14: CIA-RDP82S00697R000300010012-3 A./C0NF, 6,:/c. a /App-roved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 English rages 6 Crude petroleum a/ e)cportc, of selected elle r-e;Lppicountries iec -as FJ Ii t3 C.', "C} tC't:f.i]_ C. f s ,Y ,:> LT1c7 `'~~JL t 1 C product. , lF)6. 3 Value of petroleum as e Exports in' 1963 ercen.t_rf. Country (millions $1JS ) Total Gross do7laeB : l e Product A. Petroleum as major foreign exchange earner (above 10 per cent of total, exports) Libya b/ . . . . . 1,860. 99.6 58.4 ku*rYait b/ . . . . . . . . ? 1,5 590-.'0'- 96.8 59.7 Iraq b/. . . . . . . . . . . 996.0 95.5 3S,9 Iran. b/ . . . . . . . . . . . . . 1,686.6 89.7 19.5 Algeria ? . . . . . . . . . . . . 699. f3 8z+?3 20,8 c/ Saudi Arabia 1,487`3 78.1k 113.6 Venezuela . . . . . . . . . . . . 1, 97'3.9 69.1 19.9 Gabon . . . . . . . . , . . . . 63;, 9 51.5 26.8 d/ , Lebanon c/ . ., . 5 `. 8 34.8 ? 16.9 Indonesia . . . . . . . . . . 2T6.2. 33.7 ,3.8. Tunisia . . . . . . . .... . . . 35.5. 22.5 3.3 Nigeria . . . . . . . . . . . . . 118". . 20.0 2.9 d/ Bolivia . . . . . . . . . . . . . X1.1. 13.8 2.5 T3. Petroleum as important. foreign exchan,:y rir- r ~kaetween 3 per ceni.-10 per cent, of tot;a1 cxport.s) Syria . . . . . . . . . . . . . . l1~ . l 8.2 1.2 United Arab bepublie, 51.'3 8.2 0.#i Colombia . . . , . 7.2 0.14 Trinidad and. Tobago . . . . . . . ? 29.0 6.2 3.6 Mexico e/ . . . . . . . . i 0.8 3:2 0.2 C. Petroleum as miinor foreign exchange earn6 ''' (less than 3 per cent; af' total exports ) Congo (Brazzaville) . . . . . . 1.0 2.0 ... Peru . . . ? . . . . . . . . . . 12.5 1.14 0.3 Liberia e/ . . . . . . . . . . . 2?13 1.32/ 0.9 c/ Mal.a,y_,ia. ? . ? . . . . . . . 8.]. 0.6 0.25-f/ Uruguay e/ . . . . . . . ... . . 0.5) 0.3, 0.03 Southern Yemen e/ . . . . . . . . 0.27 0.2 ... Burma e./ . . . . . . . . . . . . 1.52 0.13 0.08 d/ (Source and foot-notes on following page) Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 / . . Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 A/CONF.62/C.1/L.11. English Page 7 (Source and foot-not,s to table. 1) Source: United Nations Statistical Papers, World Energy Supplies 1965-68; Organisation for Economic Co-operation and Development, Series C, 1968 (January- December), Commodity by Trade; International. Monetary Fund, International Financial Statistics, April 1971; Monthly Bulletin of Statistics, March 1971; gross domestic product print-outs in national currency; Agency for International Development, Data Year Books. Crude petroleum (SITC 331). Data is obtained from IMF-IFS)-individual countries. c/ As percentage of gross national product or total exports from AID Yearbook. d/ Using 1967 gross domestic product. e/ Value of petrolewarn exports as reported by OECD importing; countries. f/ Using 1966 gross domestic product. Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 /` ` ` Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 A./crow'. 62/C. a/ x,11 ri.g11sh. Table 2 I~ifin~ rzc c ex a~ to tv/ of deVt!l GTj.n coutri.4, ~r, rr rc.r:n ,.z t1~ >or. t ,~nri.t rs> c3~orre ~3tc r: in czc~rl_o n ot.] , carzzatr c .~ ta, ]. t.~ ltt~' F' E:X C)T t.S 177 f r t Y1 1 Vr l,zc o irirall( 4 ` housan s US As a percentage As a percentage metric dollars of total, of groan Country, t;or+s ( .0010) exports daznenta.c arc, AAA. A- t4a nt. aanese as ris e.:z t.orr,in ch .n c earner: aYovc ?per cent of total expoxts 12.71i/ Gabon . . . . . . 1,584 30,095 Manty arje re as im cart :ant fr~rn,,tti c xc~ ~tnf c'. c ar7ir^r: (between. 3 per cent-10 per cent of total exports) 305 9,1.49 33,04 0.45 i/itLZlFY 7.rlE:'. F' cis Y77]Tl!)Y'~`C rerun C'Yt.',77_1; C'ta I7f lam: (le > than 3 per Cent y o#' total exl corf s ) Democratic Tic-public oft the Congo 272 9,l3 J, a 0.630/ a 0} ?08 2 5,i~08 1.10 . b/ It;Mira 9? 17,619 c6 0._ 0.04- 4 l O i ior. oc ca . . . . . . 73 ,1107 4 0.91 . . 29 0,14 0.2c/ Guy an a. () 8 1 573 0.35 0.12 C/ Ivory Coast , . . . Trinidad and Tobago 2 13 , 467 0.1 0.05- 01 Philippines 31 815 0.08 0. Source: Agency for. International ]lc:~elo m nt., Economic D toBoolr; ]qua 7.ru_t5n annual do la stati:t].gl;c de a cayonir 196'i tmzt!1 1970:, w,o~at.hl,~ Bulb.-Ain _of St,rt%,t.ic~, March 1971; Sr,terntitiona,l i-onet,tl.ry l~aaracl., l:rLerfl.txanhl J i.r~rancicil.~ Statistics, April. 1971. a/ Manganese ore concentrate (SITC 283.7). .b/ 1967 data- c/ 11.963 data. Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 Approved For Release 2002/08/14: CIA-RDP82S00697R0003000'P"r Table 3 Page 9 CG >cr e.r.. or is / of deyelo't):Ln countries s s a _Mrce nt.r of total. ex port8 and gx?oss domes tic raduct, ;i 9 Nn -I Exports in 1969 millions US Value af` coirper exhorts As a percentage of Total Gross domestic Exports product A. t-r j1ero-as ma., or. foreign gn exchange earner ~o v -6er cent cif' t,ota l e tort Gambia b/ . . W ? . . . . . . . . i 720 a 8 Congo-Kinshasa ? . . . . . . . . . . .? ? . 475.8 Chile b./ ? W . ? 730?7 . 250-1- Philippines . . . . . . . . . . . . . ? . ? 150.9 Uganda . .. . . . . ? i ? ? . ? ? . ? 21.4 B. copper a.s i.mor ant, f ore i.tn exc b .:ire earner: (~k7etween 3 10 rer cent ofytot~~l exports) _ 9! W6 52.6 83. ac/ 33i02-/ 78.3 12.7 28.9 6.1 a/ 15.6 1.8c/ 10.B 2.I+-- a 2.3 [~}} 6.2 j.11.~a ti . . . . ? ? . . ? . ? . ? . . ? . Bolivia a i W , W W i 'I ? it 4. 1. 0: o.83 N5. caragua. . . . . . . . . . . . . . . . . . 6.3 C. Copper as minor foreign exc'nanrre e> arne;r: (l es;swt}ran 3 }er cent u1' total ex ort , ) Mexico . . ' . . . . . . . . . . . 21.5 1.5 0.08'-'' 0 r 0.07 Morocco . . . . . . . . . . . . . . . . 2.3 .5 Cud-, a . . . . . . . . . . . . . . . . . . . . 2 3 0 . _35--- .. . C,,.i.h`r4 ('!; i. ..ate) 3.5 0.3 0.07 South Korea . . . . . . . . ... . . . . . . 0.1 0.02 India. . . . . . . . . . . . ? . . . . Oi.2 0.01 Source: Organisation for Economic Co-operation and Development, Series c, 1969 Pu7letin of Scatistics thl *~f ~y an (,Tr.rruu.ry- December) , Ce7rnrrc~d.it~r bYCrade Impor(: ; l~ Pionctary fund, %nternwtiona Financial Stat-Ist.ic::,, March 19'11.; Interns tIona April 1971. a/ Copper ore concentrates, including, matte ( ITT.'C 283.1) ; copper and alloys unwrought (,`.,ITC 682.?); copper and alloys of copper, worked (SIT'C 682.2). b/ i9-;8 data based on International. Monetary bind, International Financial e31'atistics . r./ 1968 data. a/ 1.967 data. Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3 / s~ .:Acpproved For Release 2002/08/14: CIA-RDP82S00697R000300010012-3- 1 nglis Page 1..0 Nickel ox`?.Jpo tr; ),/ of dccvelor)-_lnr -Oi t ";LC-:' rLO, t3 1F?Y`centtwe o total &s, >,r,..w iond dom A C. F)1'0du 4 ~ i.C Cuba . . . . . . . Indonesia . . . . . . New Caledonia . Exports in 1.969 (millions US dollars) Value of nickel (exT)0): "s As a percentage A a p Z"CE_'nta c' of total. exports of gross domestic product Q.6b/ Source: Arinales des mines (1968), January 1971.; Organisation for Economic Cco-o,p,e~-i..on and. Develeopm nt, ,ear: ?i.e ? C", 1.969 (Jaa.r.~zr:r flcce?t~Iicx?) Commodity Icy T ade Impor ts; r~ioraf,h1 I3u1.1e t i n of a (;t ti stic s, March 1.971. f.CiYi(.'entk`Ci.to w/ Nickel ore and alloys, unwrought (,3!'P(,' 683.1) ; nickel o/ 1968 data. c/ Territory of France. ricl.u.rii:n~; matt, (SiTC 283.2); nickel and alloys, worltcr1 (,.T C 683.2). ~ OI7r3,i'e, f'} ?Orhs o C t''1xelopi r cC7m't.rie r i, ti C.Yt F 4f; 1 WT.- of tot l C 1d 3CY% #?i [~ r.;xc- ,,, dC7m do 1, oei. Qb Exports in 1.968 (zr,illions US dollars) Ilermocratic Republic of the Congo . . . . . . . 2'9.7 .. Zambir3 . . . . . 4??!C/ Morocco . . . . . . . . . n. a_#.. Value of cobalt exports As a percentage As a percentage of a/ of gross ! total. exports- domestic product__ 5.2 0.6 a/ United. Nations, Monthly Bulletin of Statistics, March 1971. 1/ Banque Nationale du Congo, 1970. Cl Republic of Zambia, Annual statement of External 'rude 1966. Approved For Release 2002/08/14: CIA-RDP82SO0697R000300010012-3