Rio’s uranium arm restarts productions
Australian Business Journal
Rio Tinto’s Australian uranium arm has restarted production earlier than expected surprising many market analysts who had predicted the firm would not restart production before the end of the year.
Energy Resources of Australia (ERA), which is 68.4 per cent owned by Rio, started processing again in June.
The dismal June-quarter production figures of 83 tonnes of uranium represented a decrease of 90 per cent on the previous year’s figures.
ERA was forced to stop production in January due to heavy rains at its Ranger mine in Kakadu National Park.
The Darwin-based company said it now expected to produce 2600 tonnes of uranium this year, up from previous guidance of 2400 tonnes. In 2010, ERA produced 5700 tonnes of uranium.