One of the world's biggest uranium miners is forecasting a strong future despite reporting a big loss last year.

Energy Resources Australia, which runs the Ranger uranium mine in the Northern Territory, held its annual general meeting in Darwin today.

Operations at the Ranger facility were closed for five months last year because of extremely wet weather.

The closure resulted in the company reporting a $154 million annual loss.

ERA told shareholders the the AGM that some open pit operations at the mine will end late this year.

Earlier, it had reported that it was moving toward establishing an underground mine at the site, which is located within the boundaries of Kakadu National Park, about 230 kilometres south-east of Darwin.

A contract has been awarded for the excavation of a two-kilometre tunnel to test the viability of another uranium ore body on the Ranger lease.

Meanwhile, the Australian Conservation Foundation is calling for all Ranger operations to end.

Foundation spokesman Dave Sweeney says there are severe environmental risks associated with the mine.

"Over the course of the history of ERA's operations, we have seen over 150 publicly documented leaks, spills, accidents and breaches," he said.

"Some of them have been small but some of them have been severe."