January 28, 2011

Australia's Energy Resources (ERA) Suspends Uranium Processing " 12 Week Stoppage "

Published on Friday January 28 2011

SYDNEY Jan 28 (Reuters) - Energy Resources Australia has suspended uranium processing at its Ranger mine in Australia's Northern Territoy as a precautionary measure during the region's annual wet season, the company said.

The 68 percent-owned subsidiary of Rio Tinto said the suspension was likely to last 12 weeks.

"The La NiƱa weather pattern, which has brought extensive flooding to the eastern states of Australia, has also brought significantly higher than average rainfall to Ranger mine since October 2010," the company said.

As a consequence of the suspension, ERA said it sees 2011 production of uranium oxide at this stage to be at a similar reduced level to 2010, when it produced 3,793 tonnes. 

 Readers Please Note!

I would like to also take special note that this may very well put upward pressure on the current Uranium Spot Market

During 2010, Energy Resources Ranger Mine currently supplied  approximately 8.8% of World supplies and is rated as the worlds Second largest Uranium producing Mine behind Cameco's McArthur River.

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