AEMA, coalition launch legal challenge to BLM Conservation and Landscape Health Rule
The American Exploration & Mining Association was joined by a coalition in filing a challenge last Friday in the Wyoming district court.
“Energy Resources of Australia Ltd., the uranium arm of mining giant Rio Tinto, on Wednesday downgraded its annual production guidance for the second time this year, and said a strong Australian dollar is hurting its bottom line.
The production shortfall means ERA will have to cover some supply requirements with purchases, further eroding its earnings.
ERA owns Ranger, a major mine that provided 9% of the world’s uranium oxide last year. The company, 68%-owned by Rio Tinto, said the fall in output was caused by disappointing ore grades. Without expansions, Ranger’s ore body is due to run out by 2012. “
Source: Wall Street Journal, October 13 2010
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©2010 | Wilfred Visser | thebusinessofmining.com