Mining News Front

US Tin Mission To Study Costs in Far East A move to obtain adequate supplies of tin at prices the United States is willing to pay was initiated when the interagency tin mission left for the Far East. The Mission, which includes representatives of the Reconstruction Finance Corporation, State Department, Defense Minerals Procurement Agency and the Bureau of Mines will go to Indonesia and Malaya. The primary purpose of the mission, according to officials, will be to study tin production costs, not to negotiate for the purchase of tin. The mission will be prepared to enter into negotiations, if the Far Eastern producers are amenable. The United States withdrew as a large-scale buyer of tin some months ago in protest against what it considered exorbitant prices being charged in the Singapore market. Subsequent attempts to negotiate for a steady tin supply at what this country considers reasonable prices have been unavailing. The U. S. is prepared to enter into a two or three year contract with the price of tin somewhere between $1.00 to $1.12 per lb. The decision to abstain from the market has not yet put a squeeze on U. S. supplies. Substantial quantities of tin still are coming in from Malaya under an old contract.