ERA's profits fall after close
PERTH (miningweekly.com) – Uranium miner Energy Resources of Australia (ERA) has reported a net loss of A$5.2-million for the half-year ended June, as a result of lower sales volumes reported during the period under review, and long-term sales contracts concluded in 2021.
The miner produced some 34 t of uranium from stockpiled ore, before production ceased in January this year, generating revenues of A$53.4-million, down from the A$168.1-million reported in the previous corresponding period.
Sales volume for the period was 351 t, compared to 1 044 t for the June 2020 half-year. The average realised sales price on contracted sales in the June 2021 half-year was $54.31/lb compared to $52.99/lb in 2020.
Net profits for the half-year were down 113%, from a profit of A$40.2-million to a net loss of A$5.2-million.
ERA incurred a cash outflow from operating activities of A$13-million for the half-year ended June compared to positive cash flow of A$25-million for the same period in 2020. Cash rehabilitation spend for the half-year ended June was A$70-million compared to A$38-million for the same period in 2020.
Production at the Ranger mine, in the Northern Territory ceased, in accordance with the Ranger Authority, on January 8, concluding processing activity on the Ranger project area after 40 years of operation, during which time more than A$500-million of royalty payments have been made to governments and Indigenous interests.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
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
