Energy Resources of Australia Expects More Cost Increases, Delays on Ranger Rehabilitation
26 September 2023 - 9:37AM
Dow Jones News
By Rhiannon Hoyle
Energy Resources of Australia said Tuesday it expects total
costs for the rehabilitation of the closed Ranger uranium mine in
northern Australia to "materially exceed" its prior estimate of up
to 2.2 billion Australian dollars (US$1.4 billion).
"In addition, it is expected that the final completion date will
also be delayed," said the company, which is majority owned by
mining giant Rio Tinto.
ERA said it is unable to provide further details on the
project's estimated schedule and costs "due to a number of
uncertainties including the outcome of final 2022 Feasibility
Study," which it now expects to receive in October, a month later
than previously anticipated.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
September 25, 2023 19:22 ET (23:22 GMT)
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