Original article by Nick Toscano
The Age – Page: Online : 4-Apr-24

Energy Resources of Australia had initially estimated that rehabilitation work at its defunct Ranger uranium mine in the Northern Territory would cost $500m and be completed by 2026. ERA subsequently advised in September 2023 that cleaning up the site will cost at least $2.2bn and is unlikely to be finished before 2028. Rio Tinto has announced that it has reached agreement with ERA to take over management of the rehabilitation program; the mining giant has an 86.3 per cent stake in ERA.

CORPORATES
ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, RIO TINTO LIMITED – ASX RIO

Original article by Nick Evans
The Australian – Page: 13 & 16 : 13-Dec-23

Energy Resources of Australia has advised that rehabilitation costs at the Ranger uranium mine in the Kakadu National Park are now expected to be $2.3bn. This compares with ERA’s previous estimate of between $1.6bn and $2.2bn. The company had $273.6m in cash at the end of September, but it is spending about $55m each quarter on rehabilitation work and corporate costs. It will most likely need to undertake a large capital raising by the end of 2024 in order to finance rehabilitation costs at Ranger over the next four years.

CORPORATES
ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA

Original article by Peter Ker
The Australian Financial Review – Page: 12 & 18 : 3-Feb-22

Energy Resources of Australia has advised that rehabilitation work at the Ranger uranium mine in the Northern Territory is now expected to cost between $1.6bn and $2.2bn. This compares with estimated costs of $526m in 2017 and $973m in 2019. The target date for completing the rehabilitation project has also been pushed back by nearly three years. Rio Tinto has an 89 per cent stake in ERA, which may pursue another equity raising to cover the cost blowout. Uranium processing at the Ranger mine ended in early 2021.

CORPORATES
ENERGY RESOURCES OF AUSTRALIA LIMITED – ASX ERA, RIO TINTO LIMITED – ASX RIO