Government Actions And The Mineral Industry

New Trade Status for Mainland China--On January 24, the Congress approved a most-favored-nation trade status with Mainland China for both imports and exports. A Presidential Proclamation had been issued earlier in anticipation of the Congressional action. Import duties on such commodities as tungsten, mercury, and antimony are automatically decreased. Defense Production Act Extended--The Defense Production Act of 1950 was extended 60 days to March 28, 1980. The provision for the usual 2-year extension of the Act is reportedly included in an omnibus energy bill that is tied up in committee. The Act under Title III provides for the expansion of productive capacity and supply and, more specifically, it gives priority to defense contracting where defense and non-defense interests conflict