Ranger suspension pushes ERA into A$127m half-year loss
PERTH (miningweekly.com) – Embattled uranium miner Energy Resources of Australia (ERA) has reported a 138% decline in net profits for the half-year ended June, which was recorded at a loss of A$127.2-million.
This was compared with a net loss of A$54-million during the previous comparable period, as no uranium oxide was produced during the period under review, after operations at its Ranger mine, in the Northern Territory, were suspended in December last year.
A progressive restart of the Ranger processing plant started in early June, following the receipt of written approval from the Commonwealth and state governments. Plant operations at the Ranger mine were suspended after a mixture of slurry moved outside the containment area, following the failure of a leach tank.
ERA has previously reported that full processing capacity would be reached during the September quarter.
Meanwhile, revenue for the half-year under review was up 26% on the previous corresponding period, to A$171.6-million on the back of higher sales volumes. ERA noted that a decrease in the average realised sales price was partially offset by a weaker Australian:US dollar exchange rate.
Sales volume for the half-year were also up to 1 524 t, compared with the 1 147 t sold in the previous corresponding period, with sales in the first half of the year supplied by existing levels of finished goods inventory on hand.
For the second half of the financial year, sales volumes were expected to be in line with the half-year ended June.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
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
