Archive for the ‘ERA’ Category

ERA, Paladin, Bannerman Resources all have over 90% decline in share price

May 23, 2013

Coal, uranium and gold stocks among the hardest hit as good times end BY:ROBIN BROMBY  The Australian   May 20, 2013  “…… Among those hardest hit are coal, uranium and gold. The base metal stocks don’t seem to have suffered to quite the same degree, although few stocks have come off less than about 60 per cent.

Among those with declines of more than 90 per cent since their peak are leading uranium stocks. In their case, their peak was back in 2007. Producer Energy Resources of Australia (ERA) has come down from $18.92 then to $1.04 now. Paladin Energy (PDN) hit $10.80 back in 2007 and now sits at 94c. Bannerman Resources (BMN) with its Namibia project was a star back then at a high of $4.14, now at 5.8c…..”

Bad prospects, indefinitely, for uranium market

May 23, 2013

Uranium on the nose, The Motley Fool By  - May 16, 2013  More than 26 months after the nuclear accident at Fukushima, Japan, the nuclear industry is still feeling the effects with depressed uranium prices and cost pressures that are squeezing margins……

The price for uranium has fallen 40% since Fukushima to US$40 a pound, as Japan suspended its fleet of nuclear plants, while Germany…

….. the uranium price could stagnate at current levels for many years, much like it did after previous nuclear incidents. Japan may not restart its reactors, preferring instead to seek other energy alternatives, and reactors currently under construction could still be cancelled or postponed.

That is not good news for ASX listed uranium miners Paladin, Energy Resources of Australia (ASX: ERA), Toro Energy (ASX: TOE) or Deep Yellow Limited (ASX:

Closer scrutiny for Kakadu uranium mine welcomed by Aboriginal landowners

April 28, 2013

Gundjeihmi Aboriginal Corporation (GAC) has today welcomed Environment Minister Tony Burke’s announcement that Energy Resources of Australia’s proposal to build an underground uranium mine, the so-called Ranger 3 Deeps, will be subject to a full Federal Environmental Impact Statement (EIS).

GAC – the organisation established and run by the Mirarr Traditional Owners of the Ranger uranium mine site, where the underground operations are planned, as well as much of Kakadu National Park – called for this level of assessment. The proposal affects a number of Matters of National Environmental Significance as it is a Nuclear Action occurring within a World Heritage listed Wetland of National Significance.

Kakadu experiences high rainfall and insufficient research has been done to be to predict the effect that underground operations will have on the surrounding wetlands.

“The Mirarr welcome the Minister’s decision. The Ranger 3 Deeps proposal is an entirely new method of mining within the bounds of Kakadu National Park and must therefore be subject to a high level of scrutiny. Energy Resources of Australia (ERA) has no experience with underground mining and the potential for water management or other environmental issues within the World Heritage area demand close examination,” said Justin O’Brien, Executive Officer of Gundjeihmi Aboriginal Corporation.

ERA currently has approval to mine on the Ranger Project Area until 2021 and has not publicly confirmed if it intends to seek a new mining approval beyond that date.

 For further information or comment contact Justin O’Brien: 0427 008 765

Australia’s uranium industry future – not looking too good

February 11, 2013

recent steps by BHP to cuts of its uranium program — from the delay of the uranium production expansion plan at the Olympic Dam project to the selling of a large Yeelirrie deposit located in Western Australia.

Recent Ranger and Olympic Dam issues along with various problems related to notable Australian uranium projects like Angela/Pamela, Kintyre, Oban, Wiluna and Koongarra, amongst others, have also caused concerns about the future development dynamics of the local uranium industry.

Australia’s uranium industry hits turbulence Mining.com, Vladimir Basov | February 8, 2013 Recent news from Australia raises serious concerns about the future development of its domestic uranium industry. While established players are exiting the market, others are lining up to explore new areas and have made some positive moves.

Open-pit mining operations at Ranger mine were terminated at the end of November 2012. To this date, Ranger mine was one of the largest uranium production centres worldwide with a total cumulative output of more than 100,000 tonnes of uranium oxide.

On Dec. 7, 2012, the operator of Ranger mine, Energy Resources of Australia Ltd. (ERA), announced that work on backfilling the pit had already started, with the first phase to be completed by the end of 2014. (more…)

ERA’s Ranger 3 Deeps Uranium Project under scrutiny

February 11, 2013
A case in 
point is the estimated one billion litres of tailings water that ERA and CSIRO believe now sits in a 
growing plume underneath the Tailings Storage Facility. The water is highly contaminated process 
water. A full EIS is required to examine the legal requirement for ERA to remove the plume and 
treat the area to a state consistent with the World Heritage values immediately adjacent to the 
mine to allow the project area to be incorporated back into Kakadu. 

Submission to Ranger 3 Deeps Project underground uranium mine referral  
Energy Resources of Australia Ltd/Mining/at existing Ranger uranium mine in Alligator 
Rivers Region/NT/Ranger 3 Deeps Underground Mine  
Reference Number: 2013/6722
31 January 2013  
Prepared by  
Stuart Blanch, Director, Environment Centre NT, Darwin, coordinator@ecnt.org / 0448 887 303. 
The Environment Centre NT welcomes the opportunity to provide comment on the referral.
We make the following comments:
1. The Ranger 3 Deeps Project is proposed by Energy Resources of Australia (ERA) to be built inside
the World Heritage listed Kakadu National Park and surrounding internationally recognised
Ramsar wetlands of the Alligators Rivers Region. By its very nature is is a highly risky project over
the long term, given the need to manage radioactive contamination for thousands of years. The
Ranger Uranium Mine has already created very substantial long term waste management issues
over the past three decades of operation, and remains a highly controversial project in the eyes
of many Territorians and Australians.

The proposed mine is a nuclear action under the Environment Protection and Biodiversity
Conservation Act (Cth) (EPBCA). However it also poses a risk to various other Matters of National
Environmental Significance including 14 threatened species, 20 migratory species and a National
Heritage Place. (more…)

Aborignal land owners: Beware of ERA bringing uranium deals

February 11, 2013

Christina Macpherson 25 Jan 13, It all looks good, that the Mirrar Aboriginal people people have at last got  a fairer deal with ERA concerning their long struggle, first against, uranium mining at the Ranger site, and then to get a better deal.

The  senior traditional owner of the Mirarr clan, the very highly respected Ms Yvonne Margarula, has welcomed the agreements.

These agreements do not include ERA’s new project , underground mining at Ranger 3 Deeps deposit beneath Pit 3.

This situation needs careful watching.  Is the new agreement part of a softening up process by the uranium mining company, as they plan to get acquiescence from the Aboriginal people for the this next project.

It has been done before – that uranium miners have chosen to mine underground, in order to avoid the responsibility of native title issues on the surface.  When they do a big shaft entry, they expand underground without involving the native title holders.  a big shaft entry, they expand underground without involving the native title holders. They have been able to convince the Aboriginal owners that  ”the crown owns the minerals”.

ERA has recently been dealing with 30 years accumulation of radioactive waste water, at Ranger.

ERA could be  a bit desperate – as recent economic history has not been kind to them    In 2012  ”From a share price of $18.22 in May 2009, the stock lost more than 90 per cent of its value to be languishing at $1.15 earlier this year, with the company’s future being seriously questioned. …. The goal of turning ERA into an underground miner won’t come to fruition before late 2015, and there will be myriad environmental, indigenous, government and company approvals to satisfy before then. “ http://www.smh.com.au/business/kakadus-miner-for-all-seasons-20120427-1xqg2.html#ixzz1tNGNVJGh

Underground uranium mine still being planned by ERA, at Ranger site

February 11, 2013

ERA beings approvals process for Ranger 3 Deeps uranium mine  http://www.   miningaustralia.com.au/news/era-beings-approvals-process-for-ranger-3-deeps-ur  16 January, 2013 Cole Latimer

Energy Resources of Australia has formally begun its statutory approvals process for the proposed Ranger 3 Deeps underground uranium mine.

It today lodged a referral with the Commonwealth Department of Sustainability, Environment, Water, Population and Communities (SEWPaC) as well as with the Northern Territory government.

It comes after the miner was accused of expanding said operations without environmental assessments.

ERA is investing around $120 million to construct an exploration decline to define its existing resource.

Construction of the decline began in May last year, with closed space drilling scheduled to commence in quarter three of this year.

The miner has also allocated an additional $57 million for a prefeasibility study into the development of an underground mine.

ERA closes down its Ranger open cut uranium mine

December 28, 2012

Open cut operations cease at Ranger uranium mine, Australian Mining 11 December, 2012 Cole Latimer Energy Resources of Australia’s Ranger uranium mine has finally stopped open cut mining, after three decades of operation.

It comes as the mine further explores its underground Ranger 3 Deeps project after receiving approvals for a prefeasibility study earlier this year.

ERA is now backfilling its Three Deeps pit after it extracted the last of the ore from Pit 3 in the last week of November, several weeks ahead of schedule, the company says….

30 years of radioactive water collected at Ranger uranium mine

December 28, 2012

Mine equipment transport to disrupt weekend travellers ABC Radio 105.7 Darwin, By Clare Rawlinson , 8 Nov 12 Energy Resources Australia has asked for motorists’ patience as the uranium miner prepares to transport heavy equipment from Darwin to Jabiru at speeds of 30kmph this weekend.

ERA chief executive Rob Atkinson said the company would use police escort down the Stuart Hwy and Kakadu Hwy over two days of travel. The equipment will be used in a new $220m “brine concentrator” – a machine being built at the Jabiru Ranger Uranium Mine to treat 30 years of contaminated waste water… (more…)

The crummy economic forecast for uranium does not bother Queensland’s Premier Newman

November 4, 2012

The Australian Conservation Foundation’s Dave Sweeney called on Mr Newman to back up his claim that uranium exports will earn Queensland tens of billions of dollars over the next two decades, providing
thousands of jobs.
 ”Development plans have been shelved at Yeelirrie and Kintyre, the two largest deposits in Western Australia.
“Kakadu uranium miner Energy Resources of Australia has lost more than $180 million and BHP Billiton has walked away from its long-held plan for a massive expansion of the Olympic Dam mine in South Australia.”

Activists slam ‘Yellowcake’ Newman http://www.heraldsun.com.au/news/breaking-news/newman-names-qld-uranium-committee/story-e6frf7kf-1226506654419  AAP October 30, 2012 QUEENSLAND activists say Premier “Yellowcake” Campbell Newman’s new uranium committee is a stunt to fast-track mining of the “toxic” substance.

Mr Newman on Tuesday named members of the committee, which will establish a framework for the resumption of uranium mining in the state. It will be chaired by Central Highlands councillor Paul Bell, who has just retired as the president of the Local Government Association of Queensland, the government’s chief scientist Geoff Garrett and industry representatives.

Mr Newman said former ALP national president and indigenous leader Warren Mundine had been invited to serve on the committee and he hoped he would agree. (more…)


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