Energy Resources lowers forecast

News.com Business

URANIUM producer Energy Resources of Australia (ERA) says full year production will be towards the lower end of its forecast after delivering a drop in output in the third quarter.

ERA, which produces about a ten per cent of the world's uranium from the Ranger mine in the Northern Territory, said full year output  "is expected to approach the level achieved in 2007".

The company produced 5412 tonnes of uranium oxide in 2007 and has forecast output of between 5400 tonnes and 5900 tonnes of uranium oxide in the 2008 calendar year.

Production from Ranger during the three months to September 30 dipped 1 per cent on the previous corresponding quarter of 2007 to 1349 tonnes of uranium oxide.

ERA, which has re-established access to the higher grade ore in the bottom of the Ranger pit after it was flooded earlier in the year, must produce close to 1700 tonnes of uranium to reach the lower end of the company's production forecast.

The Ranger operation is about 250 km south-east of Darwin.


More articles in this section ...