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ERA warns of reduced uranium production

ERA warns of reduced uranium production

Uranium mining company Energy Resources of Australia (ASX:ERA) has announced that its production fell 22% in Q4 to 4.2 million tonnes, due to delays while safety work is conducted.

Ore mined, meanwhile, declined 63% year-on-year due to unavoidable mine sequencing effects – a trend that is likely to continue into 1H10.

But the company added that it had soled a record 5,497 tonnes of uranium oxide throughout 2009, with the average price for the year growing 56% to $50.84 per pound.

ERA shares have fallen 2.4% today to $22.35.

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Tags Energy Resources AustraliaASX:ERAfinancial resultsmining

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