Energy Resources Of Australia 1Q Uranium Output Down 27% On Year
April 12 2010 - 8:10PM
Dow Jones News
Energy Resources of Australia Ltd. (ERA.AU) said Tuesday first
quarter uranium output from its Ranger mine in Australia's Northern
Territory was down 27% on year to 888 metric tons.
The Rio Tinto Ltd. (RTP) subsidiary said in a statement that
average ore grades processed during the quarter of 0.17% uranium
were down 41% on the previous corresponding period.
Material mined also fell 60% on year and ERA said this was
mainly due to precautionary work on an area of instability on the
south wall of the Ranger open pit and seasonal weather impacts.
ERA had previously indicated it was expecting to experience
lower grades in the first half of 2010 and the miner said it
expects second quarter output to be in line with the first
quarter.
The Darwin-based miner had previously given guidance that
average realised sales prices in 2010 were expected to be similar
to 2009, but said Tuesday that softer market conditions now looked
set to have an influence on prices in the first half.
-By Alex Wilson, Dow Jones Newswires: 613-9292-2094;
alex.wilson@dowjones.com
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