ERA Energy Resources Of Australia Limited

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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