ERA strikes marketing deal with Rio Tinto

URANIUM miner ERA has struck a deal with its parent company Rio Tinto to improve how it sells uranium.

ERA operates the Ranger mine in Kakadu National Park, while Rio Tinto has uranium mining operations in Namibia.

Under the new deal, production from both mines will be pooled and then marketed and sold by Rio Tinto to global customers.

This will improve the value of ERA's marketing arrangements, it said on Wednesday.

When the arrangement begins in July 1, ERA will receive the same price for its production as Rio Tinto, minus a marketing fee.

ERA shares were down half a cent at $1.345 at 1126 AEST, while Rio Tinto shares were up 37 cents at $61.67.

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