Rio Tinto Unit ERA's Q3 Uranium Output Down 1%

Energy Resources of Australia Ltd, which mines a tenth of the world's uranium, reported a 1 percent fall in third quarter output on Tuesday.

Despite the year-on-year decline to 1,349 tons from 1,363 tons previously, full year production was expected to approach 2007's level, the 68.4% subsidiary of Rio Tinto Ltd/Plc said.

Production during the last quarter took nine-month uranium output to 3,706 tons, which was down 4% from the same period in 2007, the company said.

ERA in July reached an agreement to sell uranium to China for the first time.

ERA stock was up 13.8% to A$11.50, with Rio Tinto up 6.4% and the wider SP/ASX200 5% higher.