ERA’s focus is now on rehabilitating the Ranger uranium mine site.
ERA, operator of Jabiru’s Ranger uranium mine, has held its last AGM as shutdown date looms
The company behind a contentious uranium mine in Jabiru has held its final AGM before production grinds to a halt, telling shareholders its focus is now on rehabilitating the site.
MADURA MCCORMACK, NT News, 31 May 20 https://www.ntnews.com.au/business/era-operator-of-jabirus-ranger-uranium-mine-has-held-its-last-agm-as-shutdown-date-looms/news-story/ad7601dd3ed45def1a63d8286e4b1b6c
THE company behind a contentious uranium mine in Jabiru has held its final annual general meeting before production grinds to a halt, telling shareholders its focus is now on the “successful rehabilitation” of the site. Energy Resources Australia, which has run the Ranger uranium mine since 1980, has seven months left to process remaining ore before it is legally required to shut down the site and commence a rigorous five-year rehabilitation program.Mining giant Rio Tinto, which this week made headlines for legally blasting an ancient Aboriginal heritage site in WA to expand a mine, owns a controlling 86.3 per cent stake in ERA. ERA chief executive Paul Arnold told shareholders on Friday the company had spent $92 million rehabilitating the mine in 2019, made $6 million in profit after tax, and $210 million from the sale of uranium oxide. In February, ERA finalised an offer from Rio Tinto to tip $476 million toward mine rehabilitation obligations in return for a larger shareholding slice, a deal that prevented ERA from collapsing financially.
“Expenditure on rehabilitation will only increase in coming years and this is a major Northern Territory project in its own right,” chairman Peter Mansell said in his address to shareholders. “The strategic priority for ERA now is the successful rehabilitation of the Ranger Project Area.”
Australian Conservation Foundation nuclear free campaigner Dave Sweeney said the rehabilitation standard set for Ranger mine was one “never previously attempted or achieved”, warning mining giant Rio Tinto and ERA that all eyes were on them to get this right. “The challenge is how to rehabilitate the heavily affected mine site and larger Ranger Project Area in a way that reduces adverse impacts and provides confidence that the living and peopled landscape of Kakadu is well protected, now and into the future,” Mr Sweeney said.
Rehabilitation of the mine must conclude in January 2026 and, according to ERA, it will include treating more than 16.5 gigalitres of water and planting 1.1 million trees on site.
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