ERA uranium production slumps

Company News

Energy Resources of Australia Limited (ASX:ERA) has posted a big fall in December quarter production from its Ranger mine in the Northern Territory.
 
The fall in production was expected, particularly after mining operations were suspended following a leakage of radioactive uranium particles and industrial acids at the mine.  
 
Uranium output for the December quarter was 503 tonnes, down 17 per cent on the September quarter and 59 per cent down on the previous corresponding period. 
 
The slump cut annual output by 20 per cent to 2960 tonnes.
 
ERA said that apart from the shutdown, the mill was primarily fed with lower grade stockpiled material in the latest quarter.
 
ERA booked a net loss of $53.5 million in the first half of fiscal 2013.