Antinuclear

Energy Resources of Australia (ERA) – big losses but hopeful that Japan will “embrace nuclear energy”!

ERA looks to Japan re-embracing nuclear THE AUSTRALIAN, BY: BY KIM CHRISTIAN From: AAP July 26, URANIUM miner Energy Resources of Australia (ERA) says Japan will re-embrace nuclear power and that China will become increasingly reliant on the same technology.

The comments by ERA chief executive Rob Atkinson come as the miner’s year of reckoning approaches with its flagship mine Ranger in the Northern Territory rapidly depleting.,,,,,, Mr Atkinson said the uranium market remained challenging,… Mr Atkinson was speaking after ERA said it net losses shrank by more than 50 per cent to $59.86 million in the first half compared to the previous corresponding period.

Revenues fell 37 per cent to $147.999 million……..
ERA said it was well positioned for a stronger market in the mid term
if the Ranger 3 Deeps mine is developed.

The underground exploration program would begin in the first quarter
of 2013 and ERA would decide in 2014 whether it had a viable mine.

“2014 is really going to be the year of reckoning for ERA,” Mr Atkinson said.

He said the biggest challenge for the company was its non-cash costs.

Ranger, which is the world’s second largest uranium mine, produces
about 11 per cent of the global supply and is 68 per cent owned by Rio
Tinto…… http://www.theaustralian.com.au/business/breaking-news/era-says-uranium-market-challenging/story-e6frg90f-1226435482817

July 27, 2012 - Posted by Christina Macpherson | business, Northern Territory, uranium