Poor results from uranium producer ERA
Expected slump in ERA results, THE AUSTRALIAN 13 Oct 13
RIO Tinto’s listed uranium subsidiary Energy Resources of Australia has kicked off the September quarter reporting period for the group on the sour note widely expected by investors.
Output from ERA’s Ranger operation in the Northern Territory fell sharply in the quarter because of the exhaustion of open-cut reserves, restricting operations to the processing of lower-grade stockpiles.
Uranium production plunged 51 per cent to 610 tonnes (1.34 million pounds) from the previous corresponding period…..
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