Energy Resources Australia Narrows 2012 Output Guidance

Energy Resources of Australia Ltd. (ERA.AU) on Tuesday slightly upgraded its annual production guidance after it commenced mining at its Ranger pit earlier than expected following heavy rains.

The uranium miner, controlled by Rio Tinto Ltd. (RIO.AU), said it expects to produce between 3,200 and 3,700 metric tons of uranium oxide in 2012, tightening previous guidance of between 3,000 and 3,700 tons.

In the three months to March 31 it produced 612 tons, up from 518 tons in the previous corresponding period when operations were also hampered by rainfall.

"Whilst there was significantly above average rainfall at the Ranger mine during the March 2011 quarter, mining operations were able to continue in the upper benches of the pit," the company said.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

Energy Resources Of Aust... (ASX:ERA)
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