Energy Resources of Australia (ASX:ERA) is a uranium company which mines, processes and sells uranium oxide from the Ranger mine in the Northern Territory and uranium concentrates sourced outside Australia to nuclear electric utilities in Japan, South Korea, Europe and North America. ERA also provides environmental consulting services.
Australian shares, Energy Resources today announced that it will book a loss of $153.6 million for the CY11, compared to a profit of $47 million in CY10.
The company cited that production at its flagship mines was suspended for five months due to heavy rains.
Energy Resources is forecasting a uranium oxide output of between 3000 and 3700 metric tons for 2012, compared to 2641 last calendar year.