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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Energy Resources of Australia Ltd    ERA   AU000000ERA9

ENERGY RESOURCES OF AUSTRALIA LTD

(ERA)
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Energy Resources of Australia : ERA Media Statement, Jabiru amendment to Aboriginal Land Rights Act

09/03/2020 | 10:42am EST

Energy Resources of Australia Ltd (ERA) is pleased to note the successful passage through the Australian Parliament of the Aboriginal Land Rights (Northern Territory) Amendment (Jabiru) Bill 2020.

The bipartisan and broad stakeholder support for this bill is further affirmation of Mirarr ownership of the land on which the town of Jabiru is located. The bill supports the establishment of a Section 19A township lease over Jabiru and will enable the handover of the land to a community entity representing the Mirarr Traditional Owners.

Paul Arnold, Chief Executive of ERA said: 'The passing of this amendment to the Land Rights Act is a result of the long struggle and untiring efforts of the Mirarr Traditional Owners to have the land on which Jabiru is located returned to Aboriginal ownership. We congratulate the Mirarr, the Gundjeihmi Aboriginal Corporation, the Northern Land Council and the Australian Parliament on this positive outcome.'

Mr Arnold continued: 'This is a significant step towards creating a new Jabiru township lease. We share the Mirarr vision that from its origin as a town to support mining in the region, Jabiru will have a bright future with Aboriginal ownership, participation and culture at its heart.'

Together with the Gundjeihmi Aboriginal Corporation (GAC), the Commonwealth Government and the Northern Territory Government, ERA is a member of the Jabiru Taskforce which is supporting transition to a new town lease and implementation of the Jabiru Masterplan released by the GAC in 2018.

About Energy Resources of Australia Ltd

Energy Resources of Australia Ltd (ERA) operates the Ranger mine, Australia's longest continually operating uranium mine. Together, ERA provides clean energy to the world and cares for people and country.

ERA has an excellent track record of reliably supplying customers. Uranium has been mined at Ranger for more than 35 years. During that time, Ranger has produced in excess of 130,000 tonnes of uranium oxide. ERA's Ranger mine is located eight kilometres east of Jabiru and 260 kilometres east of Darwin, in Australia'sNorthern Territory. ERA is a major employer in the Northern Territory and the Alligator Rivers Region.

Under the current legal framework, ERA is required to cease mining and processing activities in the Ranger Project Area by January 2021, with final rehabilitation to be completed by January 2026.

Contact:

Alan Tietzel

Tel: +61 (0) 8 8924 3571

Email: Alan.Tietzel@era.riotinto.com

Web: www.energyres.com.au

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2019 236 M 183 M 183 M
Net income 2019 6,25 M 4,84 M 4,84 M
Net cash 2019 204 M 158 M 158 M
P/E ratio 2019 13,8x
Yield 2019 -
Capitalization 923 M 712 M 714 M
EV / Sales 2018 -0,87x
EV / Sales 2019 -0,50x
Nbr of Employees 355
Free-Float 13,4%
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Managers and Directors
NameTitle
Paul Arnold Chief Executive Officer, MD & Director
Peter John Mansell Chairman
Lesley Bryce General Manager-Operations
David Blanch Chief Financial Officer
Shane Charles Independent Non-Executive Director