Rio Tinto subsidiary Energy Resources of Australia (ERA) increased its production of uranium oxide by 14% in 2007, to 11 931 lb, after it was able to access higher-grade ore in the openpit of its Ranger mine, in Australia's Northern Territory.

Exceptionally heavy rainful in the March quarter had raised the water level in the operational pit, preventing access to higher-grade ore at the bottom of the pit, but the company had taken steps to increase the rate of water removal, enabling it to empty the pit of water by November.

Mining was now focused on stockpiling enough ore to lessen the impact on future production should the wet season be unusually heavy, the company said on Tuesday.

ERA, which declared force majeure on its sales contracts in March, said that it had met all of its delivery commitments by the end of the year.

However sales, of 5 324 t, fell short of the 5 760 t sold in 2006.

“Subject to experiencing a normal wet season, production should be restored to more normal levels in 2008,” the firm said.

The company realised average prices of $25,06/lb for uranium oxide in 2007, compared with $18,36/lb the previous year.

ERA is responsible for about 10% of global uranium production.