Energy Resources of Australia Uranium Output Rises
January 11 2016 - 5:53PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Energy Resources of Australia Ltd. (ERA.AU) said
production of uranium oxide rose in the final quarter of 2015 as it
processed more, higher-grade ore.
The mining company on Tuesday said it produced 669 metric tons
of the commodity in the three months through December, up 12% on
the same period a year earlier. Total output for the year was 2,005
tons, up 72%, it said.
Energy Resources, or ERA, meanwhile said a strategic review of
its business was ongoing.
Last year, ERA announced it would shelve its Ranger 3 Deeps
project in Australia's Northern Territory amid a prolonged downturn
in the global uranium market. While ERA said it wanted to revisit
the project later, controlling shareholder Rio Tinto PLC (RIO.LN)
said it no longer supported the future development of the site.
The company expects to update shareholders on the review this
quarter, it said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
January 11, 2016 17:38 ET (22:38 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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