Energy Resources Australia Approves Ranger Expansion Study
June 13 2012 - 8:43PM
Dow Jones News
By Ross Kelly
SYDNEY--Energy Resources of Australia Ltd. (ERA.AU) said
Thursday it has approved a $57 million pre-feasibility study on the
potential for a new underground mine at its Ranger project in
Australia's Northern Territory.
The study will run until 2014 and a final investment decision on
a new mine is expected to be made late that year, the uranium miner
said in a statement.
The current Ranger pit has almost run out of ore. The study will
involve drilling an exploration decline through the untapped Ranger
3 Deeps deposit to assess its commercial viability.
Construction of the decline commenced May 1. It involves
creating a tunnel through the resource to facilitate closely-spaced
exploration drilling.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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