The Ranger Hill uranium mine in the Northern Territory is expected to be closed for the rest of the year after the owner Energy Resources Australia, released its annual results two weeks before the end of the year.
Under investigation by the Federal Government after the plant leaked up to a million litres of acidic radioactive slurry earlier in the month, a suspension has raised concerns whether the miner would have enough uranium to meet its supply needs.
However ERA has told Fairfax there is no need to worry, with the current stockpiles expected to last six months.
“In relation to its existing sales contracts, ERA notes a large inventory of uranium oxide was built in 2013 and confirms it has sufficient inventory to meet all sales commitments in the first half of 2014,” the company said in a statement.
The closure of the top end plant will put pressure on the company to reach its 2014 production estimates.
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