The Ranger 3 Deeps mineralised zone is estimated to contain over 34,761 tonnes of uranium oxide, and is recognised as a significant resource by world standards.
ERA is undertaking a $57 million Prefeasibility Study into the potential development of a Ranger 3 Deeps underground mine.
ERA is targeting late 2015 for commencement of production if the underground mine proves viable and all Board and regulatory approvals are obtained.
Ranger mine is surrounded by, but separate from, Kakadu National Park, and the Mirarr clan of the Gaagadju Aboriginal people are the traditional owners of the land on which ERA operates.
In 2024, the Northern Territory Government decided not to renew the lease for the high-grade uranium deposit.