Energy Resources Uranium Output Falls

13 July 2010 (Last Updated July 13th, 2010 18:30)

Energy Resources of Australia, a part of Rio Tinto, has posted a 44% drop in second-quarter uranium output after heavy rain and instability in a pit wall reduced access to high-grade ore. Production of uranium oxide fell to 1.828 million pounds in the three months ended 30 June compared

Energy Resources of Australia, a part of Rio Tinto, has posted a 44% drop in second-quarter uranium output after heavy rain and instability in a pit wall reduced access to high-grade ore.

Production of uranium oxide fell to 1.828 million pounds in the three months ended 30 June compared to 3.266 million pounds produced a year earlier.

The company anticipates that full year output may fall 18% in 2010 and expects it to be between 4,300t and 4,700t due to reduced access to high-grade ore.