ERA: Applications For Ranger Mine Expansion Progressing

Energy Resources of Australia Ltd. (ERA.AU) Wednesday said that two applications to expand production at its Ranger uranium mine in the Northern Territory are progressing after applications were recently submitted to government.

ERA said one application involves a proposal to build a leaching facility to treat low grade ore. Chief Executive Officer Rob Atkinson said the proposal needs federal and Northern Territory approval.

"We expect that preparation of Environmental Impact Assessment documentation and the associated public consultation process will take 12 to 18 months," he told shareholders at the company's annual general meeting.

The other project involves developing an exploration decline to further examine Ranger deposits. Atkinson said ERA expects that a detailed Environmental Impact Statement won't be required for that development.

ERA's chairman, David Klingner, told the meeting that the outlook for uranium is strong, with supply constrained and demand projected to rise.

"There are over 100 new reactors that are now under construction, on order, or planned around the world," he said.

By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; [e-mail]