Energy Resources shares plunge after traditional owners reject Jabiluka uranium expansion

The Gundjeihmi Aboriginal Corporation has formally told Energy Resources Australia they are against extension plans of the Jabiluka uranium deposit

Shares in Energy Resources of Australia have plunged more than 20% after Kakadu's traditional owners rejected the miner's plans to expand development of the Jabiluka uranium deposit.

The community's opposition could mean the Rio Tinto-owned miner has to write down the value of its assets.