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Energy Resources Australia Approves Ranger Expansion Study

By Ross Kelly SYDNEY--Energy Resources of Australia Ltd. (ERA.AU) said Thursday it has approved a $57 million pre-feasibility study on the potential for a new underground mine at its Ranger project in Australia's Northern Territory. The study will run until 2014 and a final investment decision on a new mine is expected to be made late that year, the uranium miner said in a statement. The current Ranger pit has almost run out of ore. The study will involve drilling an exploration decline through the untapped Ranger 3 Deeps deposit to assess its commercial viability. Construction of the decline commenced May 1. It involves creating a tunnel through the resource to facilitate closely-spaced exploration drilling. -By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

Stock News for Companhia Vale (RIO)
DateTimeHeadline
02/26/201517:03:15Rio Tinto Revamps Corporate Structure to Cut Costs
02/26/201508:22:26Correction to Story on Karelian Diamonds on Wednesday
02/25/201503:54:12Karelian Diamonds Net Loss Widens, Continues Finland Exploration
02/24/201513:07:13BHP Billiton Digs Deep for Investors -- Update
02/22/201516:52:15BHP Chief to Shed Light On Mining-Spinoff Plan
02/22/201516:41:22BHP Chief To Shed Light On Mining-Spinoff Plan
02/17/201501:37:03Fortescue Cuts Payouts as Profits Collapse--Update
02/16/201520:25:16Dollar's Rise Papers Over Miners' Woes

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