Energy Resources of Australia
(ASX:ERA) says ore reserves for its Ranger Project Area in the Northern Territory dropped by 16,364 tonnes of contained uranium oxide to 13,484 tonnes.
The Rio Tinto Limited
(ASX:RIO) controlled uranium miner says grade adjustments to stockpiled materials and the insitu ore model have been attributed for the decrease.
Mineral resources for the Area increased by 7,642 tonnes of contained uranium oxide though to 117,246 tonnes. The company says this is because of the reclassification of ore reserves to mineral resources.
Energy Resources reported a loss of $121 million in the year to June 2011.
