ERA talks up Ranger uranium mine, despite floods, share price fall
…… Energy Resources itself has also been under siege, with accusations that it may be lax in environmental monitoring during its operational suspension.
fears were raised over pollution leaks from the Ranger mine, and it was accused of allowing 100 000 litres of contaminated water to seep from its tailings dam….
A NEW ERA FOR ERA, Australian Mining 10 May 2011 “……Rio Tinto’s Energy Resources Australia (ERA) has stated that it believes there is an additional 34 000 tonnes of high grade uranium oxide underneath its existing open pit at the Ranger mine, near Jabiru in the Northern Territory. According to the miner, exploratory drilling at its 3 Deeps project is set to increase the life of the mine.This is despite the world’s fourth largest uranium producer’s suspension on its operations.
…… A total of 2 490 millilitres of rain has inundated the mine since September last year, the wettest period it has seen since recoding 2 527 millilitres of rainfall in 2006/07. This rainfall also flooded out Energy Resources’ Pit 3, essentially forming a pit lake. Due to this, Energy Resources Australia does not expect to obtain access to the high grade ore at Pit 3 until much later this year.
Share price battle On top of this, it saw shares fall after a forecast first half loss of nearly $50 million. According to the NT News, ERA supplies uranium oxide to Tepco, which is the firm that runs the Fukushima nuclear power plant.
…… Energy Resources itself has also been under siege, with accusations that it may be lax in environmental monitoring during its operational suspension.
This worry is amplified by the fact that parts of its operations are; while still separate; surrounded by Kakadu National park land.
The Northern Land Council, the largest Aboriginal organisation in northern Australia, requested ERA guarantees its monitoring processes, with its chief executive Kim Hill telling the Sydney Morning Herald that a slumping share price may lead the miner to look for ways to cut costs.
Hill added that the latest situation at the Ranger mine further proves his argument that self-regulation in the Northern Territory resource sector is not working.
Late last year, fears were raised over pollution leaks from the Ranger mine, and it was accused of allowing 100 000 litres of contaminated water to seep from its tailings dam….
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