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Agreement ratified

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4 Agreement ratified

(1)

The Agreement is ratified.

(2)

The implementation of the Agreement is authorised.

(3)

Without limiting or otherwise affecting the application of the Government Agreements Act 1979, the Agreement shall operate and take effect notwithstanding any other Act or law.

Schedule — Onslow Solar Salt Agreement

[s. 3]

[Heading amended: No. 19 of 2010 s. 4.]

THIS AGREEMENT is made this 2nd day of November 1992

BETWEEN

THE HONOURABLE CARMEN MARY LAWRENCE, B.Psych., Ph.D., M.L.A., Premier of the State of Western Australia, acting for and on behalf of the State and its instrumentalities from time to time (hereinafter called “the State”) of the one part and

ONSLOW SALT PTY LTD A.C.N. 050 159 558 a company incorporated in the State of Western Australia and having its registered office at Suite 6, 18 Harvest Terrace, West Perth (hereinafter called “the Company” which term shall include its successors and permitted assigns) of the other part

WHEREAS

(a)

the Company is the holder of exploration licences Nos. 08/372 and 08/335 and desires to establish and operate a salt project at Onslow;

(b)

the Company is the holder of exploration licence No. 08/373 which it desires to use for the future expansion of the salt project at Onslow;

(c)

the Company intends to provide such facilities and services as may be necessary for its activities under this Agreement;

(d)

the Company has put forward a project outline for a salt operation which will initially produce approximately 1,000,000 tonnes of salt per annum and have the capacity to produce up to 2,500,000 tonnes of salt per annum for transportation from the mining leases as markets develop; and

(e)

the State for the purpose of promoting resource development within Western Australia has agreed to assist the Company upon and subject to the terms of this Agreement.

NOW THIS AGREEMENT WITNESSES:

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