https://www.miningweekly.com

Era posts A$271m loss

1st February 2017

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Uranium miner Energy Resources of Australia (Era) has made a A$271-million loss in 2016, owing to a A$231-million noncash impairment on the company’s property, plant and equipment during December.

The miner produced 17% more uranium oxide in the year, with output rising to 2 351 t, on the back of higher milling rates and improved recoveries.

However, sales volumes declined from 2 183 t in 2015 to 2 139 t and the average realised price for uranium oxide in 2016 was $41.87/lb, compared with the $51.99/lb in 2015. This negatively impacted on the group's revenue, which fell to A$266-million, from A$333-million in 2015.

Era told shareholders that the uranium market would likely remain challenging in the near term; however, the long-term outlook remained encouraging for established producers.

Era expected its uranium production in 2017 to be between 2 000 t and 2 400 t, with sales to be broadly in line with production.

Edited by Creamer Media Reporter

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.145 0.179s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: