Rio Tinto Will Underwrite Ranger Uranium Project Rehabilitation
“We take mine closure very seriously and ensuring ERA is able to fund the closure and rehabilitation of the Ranger Project Area, through participating in this entitlement offer, is a priority,” Rio Tinto Group Executive Energy & Minerals Bold Baatar said. “We have committed to supporting this offer with the objective of ensuring ERA is in a position to rehabilitate Ranger to a standard that will establish an environment similar to the adjacent Kakadu National Park.”
Under the terms of its mining approvals, ERA is required to end mining and processing activities at Ranger by January 2021 and complete final rehabilitation by January 2026. On February 8, ERA finalized its closure feasibility study for Ranger Project Area rehabilitation, resulting in a material increase in anticipated rehabilitation costs. Following this increase, ERA advised it needed extra funding to meet its rehabilitation obligations to the commonwealth government, northern territory government and traditional owners. The Ranger rehabilitation expenditure is not expected to generate any direct financial return for ERA.