Rio Tinto notes ERA update on Ranger mine

Rhea-AI Summary

Rio Tinto is currently reviewing preliminary findings from Energy Resources of Australia Ltd (ERA) regarding cost and schedule estimates for the Ranger rehabilitation project in Northern Territory. This follows prior warnings from ERA about potential overruns in costs and timelines. Rio Tinto has expressed commitment to collaborating with ERA to ensure the rehabilitation meets standards akin to the adjacent Kakadu National Park, emphasizing environmental restoration efforts.

Positive

• Rio Tinto's commitment to ensure successful rehabilitation of the Ranger Project Area.
• Collaboration with ERA aims to restore the environment to standards similar to Kakadu National Park.

Negative

• Preliminary findings indicate potential cost and schedule overruns for the Ranger rehabilitation project.

MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto notes Energy Resources of Australia Ltd (ERA) today released the preliminary findings from its reforecast of the cost and schedule for the Ranger rehabilitation project in Australia’s Northern Territory, which have been subject to independent review (www.energyres.com.au). This release follows ERA’s announcements on 27 September 2021, 8 October 2021 and 19 November 2021 where ERA forecast cost and schedule overruns for the Ranger rehabilitation project.

Rio Tinto is reviewing the preliminary findings of this reforecast and has advised ERA that it is committed to working with the company to ensure the rehabilitation of the Ranger Project Area is successfully achieved to a standard that will establish an environment similar to the adjacent Kakadu National Park.

This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.

riotinto.com

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Category: ERA

Source: Rio Tinto

FAQ

What is Rio Tinto's involvement with the Ranger rehabilitation project?

Rio Tinto is reviewing preliminary findings from ERA regarding the rehabilitation project and is committed to its successful execution.

What were the concerns raised by Energy Resources of Australia regarding the Ranger project?

ERA has indicated potential cost and schedule overruns for the Ranger rehabilitation project.

When were the previous announcements regarding the Ranger project made?

Previous announcements about cost and schedule estimates were made by ERA on September 27, October 8, and November 19, 2021.

What rehabilitation standards is Rio Tinto aiming for with the Ranger project?

Rio Tinto aims to achieve rehabilitation standards that establish an environment similar to Kakadu National Park.

Where is the Ranger rehabilitation project located?

The Ranger rehabilitation project is located in Australia's Northern Territory.