The uranium company Energy Resources of Australia has seen an $88 million increase in profits from its Northern Territory mine.

In its half-yearly results, ERA has reported a profit earning of $127.6 million.

That is a record amount for the company, which owns and operates the Ranger uranium mine, which is surrounded by Kakadu National Park.

For the same time last year, before the world economic crisis, ERA's figures were dramatically lower at almost $39 million.

The company attributes the increase to new contracts set at much higher uranium prices and a 14 per cent increase in production from the mine.

ERA says the weakening of the US exchange rate has also helped boost profits.

Earlier this month, the company was given the go ahead by the Territory Government to start an exploration project without the need for environmental approvals.