Energy Resources of Australia (ERA) cut its full-year uranium oxide production objective by up to 800t after 3Q output dropped 36% to 911t. It now expects to produce around 3900t, down from the 4300-4700t variety it predicted earlier. The company confirmed it will need to buy around 5000t of material to meet this year’s sales obligations. Mr Warwick Grigor, sector forecaster and chairman of BGF Equities in Sydney commented: “The shortfall represents about 1% of world supply in 2010, so it’s not the end of the world but could have some collision on the uranium price. Overall, ERA is coming in 20 percent under their capacity and that’s significant.”
In 2009, ERA accounted for nearly 10% of the universal uranium oxide production. In the first months of 2010, ERA’s output attained at 2628t of uranium oxide out of 705,000t of ore mined, a figure that is 64% below the level attained in the equivalent time of the previous year. The company reported that “Strong plant performance continued with mill revival only slightly below both the earlier quarter and the corresponding quarter of 2009. Year to date mill revival remains in line with 2009. During the quarter, the replacement of the calciner was successfully finished and well within schedule.” Around 1,845,000t of ore was milled, up 11% from the primary nine months in 2009.
In 2009, ERA accounted for nearly 10% of the universal uranium oxide production. In the first months of 2010, ERA’s output attained at 2628t of uranium oxide out of 705,000t of ore mined, a figure that is 64% below the level attained in the equivalent time of the previous year. The company reported that “Strong plant performance continued with mill revival only slightly below both the earlier quarter and the corresponding quarter of 2009. Year to date mill revival remains in line with 2009. During the quarter, the replacement of the calciner was successfully finished and well within schedule.” Around 1,845,000t of ore was milled, up 11% from the primary nine months in 2009.
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