- Write by:
-
Wednesday, August 28, 2024 - 20:14:41
-
59 Visit
-
Print
Energy Resources of Australia (ERA) said on Wednesday that it will raise A$880 million ($598.5 million).
The uranium miner will raise the capital at an offer price of A$0.002 per share, a 87.5% discount to its close last Friday before it halted trading on Monday.
The company resumed trading earlier on Wednesday.
It will use the proceeds to fund the rehabilitation of the Ranger project area, a mine in the Northern Territory, until the third quarter of 2027, it said.
Rio Tinto, which holds an 80% stake in the company, will subscribe for shares worth A$760 million, lifting its voting power to up to 99.2% in ERA.
ERA’s board had appointed advisers for a potential equity raise in early March.
Short Link:
https://www.miningnews.ir/En/News/628945
Lincoln Minerals has uncovered high-grade uranium mineralisation at its Eridani deposit situated within the eastern Eyre ...
Mining News Pro - The CEO of Nicico’s Engineering and Development Company said: The necessary studies for the ...
Mining News Pro - Hormozgan Steel managed to produce 826,000 tons of sponge iron in the first 5 months of this year in ...
Mining News Pro - CEO of Hormozgan Steel Company said: Power outages in the past three months have damaged the country's ...
Mining News Pro - ESCO's Deputy of Commerce mentioned that the construction industry exhibition presents the development ...
An unexpected shutdown at one of China’s biggest lithium mines has left the industry scrambling to judge if the move ...
Chinese billionaire Xiang Guangda’s battery company is hunting for more US investment opportunities despite mounting ...
Russia’s war on Ukraine is making it harder for Kazatomprom to keep supplying the West, company CEO Meirzhan Yussupov ...
Coal India Ltd. is planning to invest about 670 billion rupees ($8 billion) to build coal-fired power plants close to ...
No comments have been posted yet ...