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ERA Warns of Drop in Uranium Production at Ranger

Energy Resources of Australia has forewarned of a drop in production levels due to flooding in the Ranger pit in the Northern Territory. ERA said that the rainfall flooding has prevented it from accessing high grade ore.

The Rio Tinto controlled ERA said that the inability to fully drain the pit at the mine combined with inaccessibility to the high grade ore at the bottom of the pit was likely to impact the production of uranium oxide for 2012.

Figures have already shown that the amount of uranium oxide produced in the Northern Territory mine have dropped by 12% since the December 2010 quarter to just over 1,000 tonnes. The production now depends on the rainfall that is to be experienced for the remaining part of the 2011/ 2012 wet season.

In January 2011 ERA was forced to shut down production due to tropical cyclone Carlos. Going by past experience it is unlikely that the mine which is located near Jabiru in Kakadu National Park, will be able to resume mining operations normally very soon.

The company has not yet been able to give any guidance for the production of uranium oxide for 2012. ERA has seen its stocks come down 80% in the last year. Rio Tinto holds 68% of stake in the company which is listed separately on the Australian stock market.

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

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