Uranium miner Energy Resources of Australia expects to post a full-year loss of between $135 million and $155 million in fiscal 2012, as it continues to cut costs amid difficult market conditions.

ERA expects to generate $75 million in savings by December and says it's on track to save $150 million by the end of 2014, after carrying out a business review last year.

In an investor briefing on Monday, the company confirmed it would soon finish mining in Pit 3 at its flagship Ranger mine in the Northern Territory.

Mining will be completed in November before the backfilling of 30 million tonnes is carried out.

Ranger, which is the world's second-largest uranium mine, produces about 11 per cent of the global supply and is 68 per cent owned by Rio Tinto.

ERA said the slow recovery in Japan was expected to lead to a quiet uranium market in the near term, while the longer-term outlook in China was more encouraging.

"China's new build and demand is still the key driver and is expected to drive higher (uranium) prices in the medium to long term," ERA said in a statement.

Fourteen rectors were in operation in China, with 27 reactors under construction.

Just two reactors were operating in Japan, but restarts were expected in the near future.

ERA said it expects to produce 3,500 to 3,700 tonnes of uranium oxide at its Ranger mine in 2012.

It says its Ranger 3 Deeps underground projects are still on schedule to be in production by later in 2015.

"ERA is well positioned for a stronger market in the mid-term if Ranger 3 Deeps mine is developed," ERA said.

The company added that it will release a prefeasibility study for rehabilitation at Range at its full year results.

ERA shares closed five cents, or 4.1 per cent, higher at $1.25.