Antinuclear

Low demand, low prices, poor outlook, as Ranger uranium mine loses $54 million

ERA boss steps down amid bleak short-term outlook The Motley Fool by Owen Raskiewicz, Thursday, August 1, 2013 Energy Resources Australia (ASX: ERA) chief executive, Rob Atkinson, has quit his position after nearly five years at the helm of the Rio Tinto (ASX: RIO) subsidiary.

ERA has struggled with massively reduced demand and prices for the past seven years. In the wake of the Fukushima nuclear disaster in
Japan, the spot price of uranium hit a low of slightly less than $US 40 per pound, its lowest point in seven-and-a-half years but it’s not
getting better…….

The one positive ERA shareholders can take away from a difficult short-term outlook is the knowledge that few new producers will come online in the near future. There was no dividend declared by ERA…

August 1, 2013 - Posted by Christina Macpherson | business, Northern Territory