Majority shareholder Rio Tinto has blasted Energy Resources Australia over suggestions the Jabiluka uranium deposit could one day be mined despite fierce opposition from traditional owners, who have drawn parallels withRio chief executive, Australia, Kellie Parker said she was increasingly frustrated and losing confidence in ERA, which this week released an independent expert’s report putting a value of up to $1.
Rio maintains that ERA’s independent board committee, headed by chairman Peter Mansell, has resisted giving that commitment. An independent valuation prepared by Grant Thornton and suggesting the Mirarr traditional owners could change their views on mining in the next 10 years has exacerbated the stand-off.
Gundjeihmi Aboriginal Corporation has made it clear the Jabiluka land is of enormous cultural heritage significance and contains extensive rock art galleries as well as the 65,000-year-old Madjedbebe archaeological site. ERA’s independent board committee commissioned the valuation report after failing to obtain shareholder support for a rights offer in July following a blow out in Ranger rehabilitation costs.Ms Parker said on Thursday that Rio stood by its offer to subscribe for its full pro-rata entitlement at a price that reflected fair value, but the Grant Thorton valuation failed to appropriately recognise the long-standing opposition of the Mirarr to further mining on their land.with 7.
Ms Parker said Rio has made several offers to the ERA independent board committee aimed at making sure the rehabilitation work is done. “And what they bring back to us doesn’t allow us to just directly put money into the ground and into rehab, so we’re becoming deeply frustrated and losing confidence.”
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