Statutes, codes, and regulations
Wyoming Administrative Code
Agency 060 - Lands and Investments, Office ofSubagency 0002 - Land Commissioners, Board of
Chapter 21 - LEASING OF URANIUM
Section 21-7 - Royalties

060-21 Wyo. Code R. § 21-7

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Current through April 27, 2019
Section 21-7 - Royalties

(a) Royalties for uranium shall be based on the terms of the particular lease agreement, subject to all state royalty statutes and rules, and shall be based on the total consideration received for state production. The following royalty rates shall apply, unless a different rate is specifically authorized by the Board:

  • (i) At two and one-half percent (2½%) where the lessee's weighted average price for yellow cake is less than twenty dollars ($20) per pound based on gross yearly sales realization.
  • (ii) At two and three-quarters percent (2¾%) where the lessee's weighted average price for yellowcake is twenty dollars ($20) or more, but less than twenty-six dollars ($26.00) per pound based on gross yearly sales realization.
  • (iii) At three percent (3%) where the lessee's weighted average price for yellowcake is twenty-six dollars ($26) or more per pound based on gross yearly sales realization.
  • (iv) Royalties are due on a proportionate basis for State lease production in inventory at the percentage of pounds that the State lease production bears to total production in inventory for each sale.

(b) After a uranium lease becomes an operating lease, the Board may reduce the royalty payable to the state, as to all or any of the lands or formations covered by the lease, if it determines that such a reduction is necessary to allow the lessee to undertake additional operations or to continue to operate with a reasonable expectation that the operations will be profitable. Such a reduction in the royalty payable to the state shall in all cases be conditioned upon the cancellation of all cost-free interests. The Board may also impose other conditions to the reduction in royalty.

060-21 Wyo. Code R. § 21-7