Under the terms of the settlement, USECC is to transfer all of its interest in the Green Mountain Mining Venture (GMMV) to Kennecott. In consideration for the transfer, USE and USECC will receive $3,250,000 in cash; a 4 percent net profits royalty interest on any future uranium production from certain of the GMMV properties; various mining equipment and inventories that have substantial resale value located on the GMMV properties, and certain mining claims that Kennecott may abandon. Kennecott has agreed to assume all reclamation liabilities on the GMMV properties including the Sweetwater Uranium Mill.
HOUSTON, Sept.12, 2000—Altra Energy Technologies Inc. recently announced a number of record-breaking figures associated with Altrade, an independent online trading exchange for the energy industry. Altrade Power set an all-time monthly volume record in August of 18.9 million megawatt hours (MWHs), surpassing its previous record of 14.8 million MWhs set in February. August also saw a record number of trades.