This could have a significant impact on the spot price - same as 2007 when the mine flooded last time. The ranger mine produces 10% of the worlds supply so ERA will need to buy on the spot market to fulfil contracts.
Also ref link below - the BOM advises that the current La Nina pattern is one of the strongest on record so 12 weeks could be optimistic.
Australia's ERA says suspends uranium processing Fri Jan 28, 2011 2:36am GMT
SYDNEY Jan 28 (Reuters) - Energy Resources Australia has suspended uranium processing at its Ranger mine in Australia's Northern Territoy as a precautionary measure during the region's annual wet season, the company said.
The 68 percent-owned subsidiary of Rio Tinto said the suspension was likely to last 12 weeks.
"The La Nina weather pattern, which has brought extensive flooding to the eastern states of Australia, has also brought significantly higher than average rainfall to Ranger mine since October 2010," the company said.
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