Rio Tinto plc’s ERA Court Fight Puts Ranger Mine Cleanup Back in Focus
A Federal Court decision is pending on Rio Tinto’s attempt to compulsorily acquire the remaining shares of Energy Resources of Australia, after 123 shareholders filed objections above the legal threshold. ERA spent $47 million on Ranger uranium mine rehabilitation in the March quarter, with Pit 3 capping work delayed by weather and permit issues. ERA reported $211.5 million in cash at March 31.
