Energy Resources of Australia (ERA) Q3 2026 TU earnings summary

Executive summary

• Pit 3 capping reforecast adds ~14 months to the schedule; further rehabilitation cost increases of A$25m–A$95m in net present cost terms remain under review.

• Progressive rehabilitation continued, with A$66m spent during the quarter; cash and other financial assets totalled A$439m at 30 September 2026.

Financial highlights

• Rehabilitation expenditure was A$66m in the September quarter; no mining, production or development expenditure was incurred.

• The revised Pit 3 capping methodology increases forecast completion costs; the impact is reflected in the rehabilitation provision at 30 June 2026.

• Further Tranche 1A reforecast elements indicate potential additional rehabilitation costs of A$25m–A$95m in net present cost terms.

Outlook and guidance

• Available financial resources are expected to support planned rehabilitation activities to approximately Q4 2027.

• Finger filling capping is ahead of target; use of end tipping in the softest Pit 3 areas depends on trial completion and regulatory approvals.

• A power purchase agreement starts in late Q4 2026 to support rehabilitation and maintain supply when existing power infrastructure is eventually demolished.