Energy Resources of Australia Ltd. Class A (AU:ERA) has released an update.
Energy Resources of Australia Ltd. has appointed Rio Tinto, its majority shareholder, to oversee the significant Ranger Rehabilitation Project, aiming to leverage Rio Tinto’s expertise in mine rehabilitation for more efficient and cost-effective project delivery. The company has also completed a feasibility study and increased its rehabilitation provision to $2.4 billion, reflecting the complexity of activities beyond 2027. Additionally, an Interim Entitlement Offer has secured funding for the project into the third quarter of 2024, with plans for a future equity raise.
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