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Rio Tinto's ERA sees higher rehab costs for Ranger uranium project

Published 08/02/2019, 02:14 pm
Updated 08/02/2019, 02:20 pm
© Reuters. Rio Tinto's ERA sees higher rehab costs for Ranger uranium project
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Feb 8 (Reuters) - Energy Resources Australia ERA.AX , owned by global mining giant Rio Tinto (LON:RIO) RIO.AX , on Friday flagged a higher-than-expected rehabilitation provision for its Ranger uranium project as costs from additional treatment and increased contingency rose.

The uranium miner said the rehabilitation provision for its Northern Territory-based project was now estimated at A$830 million ($587.06 million) as at Dec. 31, compared with its previous estimate of A$808 million.

The company's net loss from continuing operations widened 10-fold to A$435.3 million in 2018 from a year earlier. ($1 = 1.4138 Australian dollars)

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