Antinuclear

Continued downward spiral in uranium prices hits ERA shares

Uranium production falls at Ranger mine, Sydney Morning Herald, BARRY FITZGERALDApril 14, 2010 SHARES in Rio Tinto’s listed uranium subsidiary, Energy Resources of Australia (ERA), have suffered a beating on the back of the company’s sharply lower production effort at the Ranger uranium mine in the Northern Territory. Market sentiment towards the stock was not helped by a downbeat assessment of the likelihood that uranium prices would pull out out of a spiral,.…ERA shares dropped $1.17 or 5.9 per cent to close at $18.52. Its forecast of near-term moves in the uranium price rubbed off on other uranium stocks, with Paladin Energy shares falling 3.45 per cent……. there had been no progress in ERA’s plan to develop the $20 billion Jabiluka uranium deposit near Ranger.ERA has undertaken not to develop the deposit without the consent of the traditional owners. Uranium production falls at Ranger mine

April 14, 2010 - Posted by Christina Macpherson | business, uranium | antinuclear, nuclear, nuclear wastes, uranium