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Ranger Uranium Project: Deed of Assignment (12 September 1980) | | Date: | 12 September 1980 | | | Sub Category: | Commercial Agreement | | Place: | Ranger Project Area | | State/Country: | Northern Territory, Australia | | The Ranger Project Area is 250 km east of Darwin, surrounded by Kakadu National Park. | | | | Subject Matter: | Mining and Minerals | | Summary Information: | | | The Ranger Uranium Project: Deed of Assignment (the Agreement) of the 12 September 1980 was entered into between the Commonwealth of Australia (the Commonwealth), Australian Atomic Energy Commission (AAEC) and Energy Resources of Australia Ltd (ERA). The Agreement gives effect to the sale and assignment by the Commonwealth of its share of concentrates of Ranger uranium ore and other mineral products and certain other rights and entitlements under the Government Agreement of 9 January 1979, to ERA. It also gives effect to the sale and assignment by AAEC of the whole of its enterprise under the Government Agreement, its rights, obligations and duties in and under the Management Agreement and the whole of its interest in the Authority (under Section 41 of the Atomic Energy Act 1953), to the ERA. | | Detailed Information: | | | The Agreement was entered into at the same date as other Agreements entered into by the Commonwealth of Australia (the Commonwealth), Peko-Wallsend Operations Ltd (Peko), Electrolytic Zinc Company of Australasia Limited (EZ), the Australian Atomic Energy Commission (AAEC), Energy Resources of Australia Ltd (ERA) and Ranger Uranium Mines Pty Ltd (RUM) whereby some of the parties waived certain provisions under the Government Agreement of 9 January 1979, ERA undertook to perform and be bound by the terms of the Management Agreement of 9 January 1979 and RUM released and discharged some of the parties under the terms of that Management Agreement.
Under the Agreement ERA paid:
· To the Commonwealth - the sum of $125,000,000, with interest, for the sale and assignment to ERA of the Commonwealth’s entitlement to all concentrates of Ranger uranium ore and other rights and entitlements pursuant to the Government Agreement;
· To AAEC - a total amount of $104,306,767.70 together with interest, for the sale and assignment to ERA of, amongst other things, its rights, interests and obligations under the Government Agreement and the Management Agreement. | |
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