Energy Resources of Australia Uranium Output Rises

   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)

Energy Resources Of Aust... (ASX:ERA)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024