Rio Tinto mulling impairment charge of $300 mln

June 11 (Reuters) - Rio Tinto Ltd said it was assessing an about $300 million non-cash impairment charge related to its shareholding in Energy Resources of Australia Ltd (Other OTC: EGRAF - news) .

ERA, in which Rio Tinto (LSE: RIO.L - news) has a 68.4 percent stake, said earlier on Thursday that it would not proceed with the final feasibility study of its Ranger 3 Deeps uranium project in Australia, citing weak market conditions.

Rio Tinto said it agreed with ERA's decision not to progress with the study "due to the project's economic challenges." (http://bit.ly/1JN595P)

Uranium prices plunged after the March 2011 meltdown at Japan's Fukushima nuclear plant. Japan idled its entire industry in response, exacerbating a worldwide supply glut.

Rio Tinto also said it would assist ERA in funding the rehabilitation program at the Ranger mine near Kakadu National Park, following a toxic spill in December 2013.

(Reporting by Kanika Sikka in Bengaluru; Editing by Sriraj Kalluvila)