July 25 (Reuters) - Energy Resources Of Australia Ltd (ERA) (ERA) said on Thursday that majority owner Rio Tinto (RIO) had offered to help underwrite part of the cost of rehabilitating the Ranger Uranium Project in the Northern Territory.
ERA said it had total cash resources at June 30 of A$425 million ($296 million), while the rehabilitation provision is A$799 million.
Rio had indicated it was only willing to provide financial support through a renounceable entitlement offer by ERA, the uranium miner said in a statement.
Rio would subscribe for its 68.4% entitlement of new shares, but had also offered to underwrite the balance of the offer in the event that the company is unable to get alternative underwriters.
ERA said it was considering a potential renounceable entitlement offer, and was also looking at other potential funding sources.
($1 = 1.4337 Australian dollars)
News: ERA Australia's ERA says Rio Tinto to help with Ranger uranium rehabilitation
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