(WASHINGTON) - The National Defense Stockpile Market Impact Committee (the Committee), co-chaired by the Departments of Commerce and State, today published a Federal Register Notice (66 FR, 10875) requesting public comment on the potential market impact of the proposed sale by the Department of Defense (DOD) of an increased quantity of palladium from the National Defense Stockpile.
The Committee provides advice to DOD on the projected domestic and foreign economic effects of all acquisitions and disposal of materials from the Stockpile that are to be included in an Annual Materials Plan (AMP). The AMP must be approved by Congress.
The Committee is seeking public comment on the potential market impact of a DOD proposed increase in the quantity of palladium listed in the current FY 2001 AMP and proposed FY 2001 AMP, from 300,000 tr. oz. to 600,000 tr. oz. The proposed increase will take advantage of historically high prices for palladium and will also provide a supply of the material into a world market currently experiencing a severe shortage. Public comment on this proposed increase must be received by March 22, 2001, to ensure full consideration by the Committee.
The quantity of palladium (including the proposed increase) listed in both the current FY 2001 and proposed FY 2002 AMPs are not sales target disposal quantities. They are are only a statement of the proposed maximum disposal quantity of the material that may be sold in a particular fiscal year. The quantity of material that will actually be offered for sale will depend on the market for the material at the time of the offering as well as on the quantity of material approved for disposal by Congress.
Under the authority of the Strategic and Critical Materials Stock Piling Act, as amended, DOD maintains a stockpile of strategic and critical materials to supply the military, industrial, and essential civilian needs of the United States for national defense. In selling and acquiring Stockpile materials, DOD has a statutory obligation to refrain from causing undue market disruption, while at the same time protecting the U.S. Government against avoidable loss.
To obtain a copy of, or more information about, the Federal Register Notice, please contact either Richard V. Meyers, Office of Strategic Industries and Economic Security, U.S. Department of Commerce, Tel: (202) 482-3634, FAX (202) 482-5650, or by e-Mail; or Terri L. Robl, Office of International Energy and Commodity Policy, U.S. Department of State, Tel.: (202) 647-3423 or FAX: (202) 647-8758; (co-chairs of the National Defense Stockpile Market Impact Committee)
In April of 2002 the Bureau of Export Administration (BXA) changed its name to the Bureau of Industry and Security(BIS). For historical purposes we have not changed the references to BXA in the legacy documents found in the Archived Press and Public Information.