Business
The Energy Resources (ASX:ERA) share price is falling. Here’s why.
The Energy Resources of Australia Limited (ASX: ERA) share price has fallen after an announcement the miner will cease production at its Northern Territory Ranger uranium mine today. The company also released an update this morning on its quarterly production figures.
After lifting more than 3% in morning trading, the Energy Resources share price has since dropped 1.59% to trade at 31 cents, at the time of writing.
What did Energy Resources report this morning?
Energy Resources of Australia advised that uranium oxide processing at its 100% owned Ranger mine will cease today, as required by the Ranger authority.
The miner started uranium mining at Ranger in 1980. Since then, the mine has produced more than 132,00 tonnes of uranium…
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