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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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End-of-day quote. End-of-day quote Australian Stock Exchange - 12/03
0.155 AUD   0.00%
10/23ENERGY RESOURCES OF AUSTRALIA : Appendix 3Y - P Arnold
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10/19URANIUM WEEK : Restart For Tsunami-Hit Reactor
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10/07ENERGY RESOURCES OF AUSTRALIA : Quarterly Activities Report
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Energy Resources of Australia : ERA releases 2020 Ranger Mine Closure Plan update

10/05/2020 | 11:00am EST

Energy Resources of Australia Ltd (ERA) has released an update to the Ranger Mine Closure Plan.

This release of an updated Mine Closure Plan (the Plan) follows the first public release of the Plan in June 2018 and an update released in October 2019. The Plan is updated annually in accordance with regulatory requirements and in consultation with Traditional Owner representatives, regulators and key stakeholders.

ERA's Chief Executive Paul Arnold said: 'ERA's priority to care for country is demonstrated by our commitment to achieve best-in-class closure outcomes for the Ranger Mine. This has been shown through our progressive rehabilitation of Ranger and the completion of an entitlement offer earlier this year ensuring we have the funds to meet our rehabilitation obligations. Since 2012, ERA has spent more than $642 million on rehabilitation and water management at Ranger.'

'The Plan, which reflects the complexity of rehabilitating a site in this environmentally and culturally sensitive region, is comprehensive and achievable. It is based on long term research, expert studies, best practicable technology,cultural guidance from the Mirarr Traditional Owners and thorough stakeholder review. The Plan takes into account feedback over the past year from the Gundjeihmi Aboriginal Corporation, the Northern Land Council, the Supervising Scientist Branch, and Northern Territory and Commonwealth regulatory agencies. My thanks to all of these organisations for their contributions.' Mr Arnold said.

In addition to the release of the Plan update, ERA has released a video celebrating progress on the rehabilitation of Pit 1 with more than 13 million tonnes of bulk material movement now completing the backfill of the pit in readiness for revegetation. ERA also published an update about the first plantings on rehabilitated land earlier this year. Some of the seedlings planted were grown from seeds sowed by community members at the 2019 Mahbilil Festival.

'I encourage people to go to our website to view the updated Plan, our rehabilitation stories and other updates on the good progress we are making at Ranger. I am very proud of the ERA team for their efforts and passion in updating the Plan and delivering these progressive rehabilitation achievements.' Mr Arnold said.

About Energy Resources of Australia Ltd

Energy Resources of Australia Ltd (ERA) operates the Ranger mine, Australia's longest continually operating uranium mine. The operations of ERA are located on Aboriginal land and are surrounded by, but separate from, Kakadu National Park. ERA respectfully acknowledges the Mirarr, Traditional Custodians of the land on which the Ranger mine is situated. 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 8 January 2021, with final rehabilitation to be completed by 8 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 2020 214 M 159 M 159 M
Net income 2020 -15,9 M -11,8 M -11,8 M
Net cash 2020 678 M 504 M 504 M
P/E ratio 2020 -
Yield 2020 -
Capitalization 572 M 426 M 425 M
EV / Sales 2020 -0,49x
EV / Sales 2021 -
Nbr of Employees 355
Free-Float 13,4%
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Mean consensus UNDERPERFORM
Number of Analysts 1
Average target price
Last Close Price 0,16 
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Managers
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