By Rhiannon Hoyle
SYDNEY--Energy Resources of Australia Ltd. (ERA.AU) said uranium
oxide output rose in the final quarter of 2014, although annual
production was still sharply lower after a radioactive leak
disrupted activities at its Ranger operation in Australia's
Northern Territory earlier in the year.
The Australian company, which is majority owned by Rio Tinto PLC
(RIO), said it produced 599 metric tons of uranium oxide in the
three months through December, up 19% on year. It produced just
1,165 tons over the course of the year, though, down 61% on 2013
levels.
Processing of uranium oxide was suspended in December 2013
following a leak of about 1 million liters of contaminated slurry,
which was caused by toxic material eating through a steel tank. The
processing plant only restarted in June.
The company had already stopped mining uranium at Ranger in late
2012 after its ore was depleted. But it continued to process
stockpiled ore while it studied the viability of digging a new
underground pit called Ranger 3 Deeps.
Energy Resources of Australia said a prefeasibility study is
being finalized and would be reviewed by the board in the first
quarter of this year.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
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