PERTH (miningweekly.com) – Rio Tinto subsidiary Energy Resources of Australia (Era) has warned of a A$70-million noncash impairment in the second half of 2016.
This is in addition to the A$161-million impairment recorded at the end of June last year.
The miner told shareholders that the latest impairment resulted from a further decline in the uranium oxide price in the second half of 2016, and the consequent downgrading of near-term uranium oxide price forecasts.
Era will release its full-year financial results at the end of January.
Edited by: Creamer Media Reporter
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