Energy Resources of Australia (ERA) has increased its potential for how much uranium oxide it expects to produce in 2012 to between 3,200 and 3,700 tonnes.The revised forecast issued on Tuesday came as the uranium producer announced its March quarter operations review, which integrated a 51 per cent slide in total materials mined.
ERA, which before expected annual uranium oxide production of 3,000 to 3,700 tonnes, said it had raised its forecast thanks to the earlier than likely re-commencement of mining in the Ranger Pit 3. "However, production for 2012 remains extremely dependent on the level of actual rainfall encountered for the remains of the year," the company said in a statement.
ERA produced 612 tonnes of uranium oxide in the March quarter, 18 per cent additional than in the before corresponding period, despite lower mill head grade.Extreme rain at the Ranger mine in early 2011 had a severe crash on production and caused the suspension of processing operations.
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