Energy Resources to raise $250 mln to fund rehab costs of uranium mine

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 4 (Reuters) - Uranium miner Energy Resources of Australia (ERA) said on Tuesday it will raise up to A$369 million ($250 million) from Rio Tinto and other investors via an entitlement offer.


Proceeds from the offer will be used to fund rehabilitation related to Energy Resources's Ranger uranium mine in the Northern Territory and repay a loan from Rio Tinto, it said.
($1 = 1.4736 Australian dollars) (Reporting by Harish Sridharan in Bengaluru)

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