Friday 22 July 2005
ABC NT Local News

The operator of the Northern Territory's Ranger uranium mine says it could cost $176 million to close the mine down.

In a statement to the Australian Stock Exchange today, Energy Resources of Australia (ERA) also reported a $3 million increase in net profit.

The Ranger uranium mine, surrounded by Kakadu National Park, is expected to cease operations in 2008, with processing to continue until 2011.

ERA has informed the stock exchange it has developed a mine closure model which provides estimates of the technical, environmental and social costs.

The company says while the model will be adjusted over the coming years it predicts the mine's closure will come at a cost of $176 million.

ERA has reported a profit of $17 million for the six months to June 20 this year, compared to $14 million for the same period last year.