ERA widens full-year loss
PERTH (miningweekly.com) – Uranium miner Energy Resources of Australia (ERA) on Friday reported an increase in its after-tax loss to $188-million for the full year ended December, compared with a loss of $136-million in 2013.
Earnings during the full year were impacted by the requirement to purchase uranium oxide (U3O8) to fulfil sales obligations, after the miner was forced to suspend processing operations at its Ranger mine, in the Northern Territory, during the first half of the year.
The miner undertook a progressive restart of the Ranger processing plant in June, after receiving approval from the state and federal governments.
The Ranger mine produced 1 165 t of U3O8 during the year, down 61% on the 2013 production figure.
The company reported revenue of $379-million on the sale of 1 348 t of U3O8, compared with $356-million in revenue on the sale of 2 815 t in 2013.
A loss before interest, taxes, depreciation and amortisation of $165-million was reported during the full year, down from earnings before taxes, depreciation and amortisation of $33-million in 2013, on the back of a $48-million write-down.
The uranium miner said the market would remain challenging in the near term; however, the company was optimistic about the long-term outlook.
Uranium production in the 2015 financial year was expected to reach between 1 600 t and 2 200 t, with sales expected to be in line with production.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...
VISIT SHOWROOM
For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
