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ERA's June quarter output up 25 pct

Uranium miner Energy Resources of Australia has posted a 25 pct jump in June quarter uranium oxide production to 489 tonnes.

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Source: AAP


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Energy Resources of Australia produced 489 tonnes of uranium oxide during the June quarter, a 25 per cent increase on the same period a year earlier.

The company said all ore milled was taken from existing stockpiles, and no exploration was conducted during the quarter.

The Rio Tinto-owned uranium miner announced late last year that Kakadu's traditional owners had rejected its plans to expand development of the key Ranger uranium mine in the Northern Territory.

Following a strategic review, ERA said on Tuesday it plans to continue using its existing ore stockpiles, which it says will last until late-2020, and to use part of the proceeds for rehabilitation of the Ranger area.

The company in April also signed a deal to borrow up to $100 million from Rio Tinto - if needed - to reintegrate the rehabilitated site into the surrounding Kakadu National Park.


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