Antinuclear

ERA uranium shares fall, less output and lower grade ore

Energy Resources Shares Fall After Drop in Uranium Oxide Output By James PatonJan. 13 (Bloomberg) — Energy Resources of Australia Ltd., the uranium producer controlled by Rio Tinto Group, fell the most in 2 1/2 months after saying fourth-quarter output dropped 30 percent as it processed lower grades of ore.

Energy Resources fell as much as 4.2 percent to A$21.96 in Sydney trading, the biggest decline since Oct. 29, and was at A$22.22 at 11:01 a.m. local time. The benchmark S&P/ASX 200 dropped 0.9 percent……………
Lower grades of ore were extracted in the three months ended Dec. 31, and the amount of material mined dropped 22 percent from a year earlier, Energy Resources said. Grades of ore extracted in the first half of this year are also expected to be lower, it said.

Energy Resources Shares Fall After Drop in Uranium Oxide Output – Bloomberg.com

January 13, 2010 - Posted by Christina Macpherson | business, Northern Territory, uranium | antinuclear, Australia, nuclear costs, uranium