Mine Planning Engineer Job Vacancy - Kalumbila, Zambia

Details:

Job title: Mine Planning Engineer

Minimum Experience: 5 Years

Contract Type: On-going

Location: Kalumbila, Zambia

Salary: Negotiable

Last Date: NA

Description:

First Quantum Minerals Ltd. has grown from a small mineral operation in Zambia into a multinational mining business in less than two decades, with a global portfolio of copper and nickel assets in Europe, Africa, Australia and South America. This phenomenal growth is down to FQM people who have strived to be Bolder, Smarter and Driven in everything they do.

In March 2013, First Quantum Minerals acquired Inmet Mining Corporation, a Canadian-based mining company primarily producing copper and zinc from mines in Finland, Spain and Turkey, with also a major copper deposit under development in Panama, known as Cobre Panama. The combination of the First Quantum and Inmet assets has created one of the world’s leading copper producers with a geographically diversified portfolio of high-quality operations and development projects in eight countries across five continents.

With a strategic plan to produce more than 1.3 million tonnes per annum of copper within five years, the Company is poised to become the largest, widely-held pure-play copper producer and one of the top five copper producers in the world.

Key Responsibilities:

• Set up, develop and manage the total mine planning processes and function at Kalumbila Mineral Ltd
• Implement and manage the scheduling and reconciliation functions (mine to plan, including periodic meetings)
• Establish and maintain mine planning data repository
• Collaborate with Operations-,Geology,- Maintenance- and Processing sections
• Improve company profitability by enhanced Mine Planning Techniques and execution 

Qualifications:

•       Bachelor's degree in Mining Engineering / Mine Surveying at reputable tertiary institution 
•       Any further degree, e.g. Master's, advantageous

Experience and Skills:

• Min of 5 years in mining including 3 years in Technical open pit planning arena
• Proven mine design and planning track record 
• Mine Planning Management experience
• Whittle 4D, Power / Super User of Surpac- and Mineshed Planning packages experience 
• Strong 3D analytical thinking and spatial perception ability

Behavioral traits:

• Highly detail-orientated and process driven
• Strong team player
• Good communication skills (both written and verbal)
• Motivated towards continual improvement of processes and systems

Other requirements:

•       The willingness to locate to and willing to work at a developing mine site and relatively remote area

For more details visit: FIRSTQUANTUM

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India to auction eight coal blocks in January 2016

The Indian government today kick-started the process for the fourth round of e-auctioning of eight coal blocks, which is slated for January 18-22 next year.

The last three rounds of auction have generated proceeds of more than Rs 3 lakh crore, which would be realised over 30 years by states where the mines are located.

"It has been decided to auction eight Schedule III coal mines earmarked for non-regulated sectors like, iron and steel, cement and captive power plants in the fourth tranche.

The e-auction for these mines will be held from January 18 to January 22, 2016," Coal Secretary Anil Swarup said addressing the media here.

Directions have been issued to Joint Secretary, Coal, Vivek Bhardwaj, who is the nominated authority to conduct the auction, and the notice inviting tenders will be issued tomorrow, Swarup said.

"Commencement of sale of tender document will start from December 31 while the vesting order by the nominated authority to successful bidders will be issued by March 10," the Secretary said.

The coal blocks to be put under the hammer include Brahmapuri and Suliyari in Madhya Pradesh, Bundu and Gondulpura in Jharkhand, Gondkhari and Khappa & Extn in Maharashtra and Jaganathpur A and Jaganathpur B in West Bengal.

Together these mines are expected to have total reserves of 1,143Mt, with peak production estimated at 12.9Mt.

Asked how much the government plans to raise from this fresh round of auction, the Secretary said the same depends on the response from bidders.

Swarup said 34 blocks had been allocated or auctioned under Schedule II (either producing or likely to produce mines), of which one is under litigation and seven of them have recorded over 5-MT output.

The rest, he said, are likely to start production "in next two to three months" as all issues including necessary clearances, stamp duty, handing over of assets etc have "fortunately been resolved on the intervention of Prime Minister who himself reviewed the projects".

Mining leases have been granted in 29 cases and remaining four will also get it soon, he said.

The Supreme Court in September last year had cancelled allocation of 204 coal mines to companies without auction.

The Secretary said Coal India is "well on way of achieving 550 million tonne coal production target" for the current fiscal and has crossed the 300-MT output mark this week.

Source: PTI

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Universities offering masters degree in mining engineering - USA

The mining industry is always on the lookout for the best new talent. Whether you want to hire employees with the right educational background or you want to accelerate your career in the mining sector, the following universities offer mining specific study programs and prepare graduates for a career in the mining industry. 

The following is the  list of  Universities, which are offering Graduate programs in Mining Engineering in the United States America.

S.No.	Name of the University	Name of the Course	GRE	TOEFL	IELTS
1	University of Alaska	MS	Required	79	6.5
2	University of columbia	MS Earth Resource Engineering	Required		6.5
3	Colarado School of Mines	M.E Engineer of Mines	Required	79	6.5
4	Colarado School of Mines	M.S Mining and Earth systems Engineering	Required	79	6.5
5	Colarado School of Mines	M.S Underground Construction and Tunneling	Required	79	6.5
6	University of Utah	Master of Engineering	Required	80	6.5
7	University of Utah	Master of Science	Required	80	6.5
8	Virginia Tech	Master of Engineering	Required		6.5
9	Virginia Tech	Master of Science	Required		6.5
10	University of Nevada Reno	MS (Thesis/Non-Thesis)	Required
11	University of Arizona	Mining Engineer)	Required	79	7
12	University of Arizona	Master of Science	Required	79	7
13	University of Kentucky	Master of Engineering	Required	79	6.5
14	University of Kentucky	MS (Thesis/Non-Thesis)	Required	79	6.5
15	Missouri University of Science and Technology	Master of Engineering	Required	79	6.5
16	Missouri University of Science and Technology	MS (Mining/Explosives)	Required	79	6.5
17	Montana Tech	Master of Science	Not Required	78	6.5
18	Southern Illinois University	Master of Science		80	6.5
19	west Virginia university	Master of Science	Required	79	6.5
20	South Dakota School of Mines and Technology	MS (Geomechanics/ mining engg)		83	6.5
21	New Maxico Tech University	MS (Geotchnical/Mining/Explosives Eng)	Required	76	6
22	The Pennsylvania State University	MS Energy and Mineral Engineering (Mining)	Required	80	6.5
23	Michigan Technological University	Master of Science	Required	79	6.5

For more details regarding Mining Universities contact Us @ miningengineersworld@gmail.com

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World's second-largest diamond 'found in Botswana'

The world's second-largest gem quality diamond has been discovered in Botswana, the Lucara Diamond firm says.

The 1,111-carat stone was recovered from its Karowe mine, about 500km (300 miles) north of the capital, Gaborone.

It is the biggest diamond to be discovered in Botswana and the largest find in more than a century.

The 3,106-carat Cullinan diamond was found in South Africa in 1905 and cut into nine separate stones, many of which are in the British Crown Jewels.

"The significance of the recovery of a gem quality stone larger than 1,000 carats, the largest for more than a century... cannot be overstated," William Lamb, the CEO of Lucara Diamond, a Canadian diamond producer, said in a statement.

Lucara says two other "exceptional" white diamonds - an 813-carat stone and a 374-carat stone - were also found at the Karowe mine.

"This has been an amazing week for Lucara with the recovery of the second largest and also the sixth largest gem quality diamonds ever mined," Mr Lamb said.

The stone is yet to be evaluated, but commodities and mining analyst Kieron Hodgson, told that "the potential to be one very expensive diamond."

In April a flawless 100-carat diamond was sold for $22.1m (£14.8m) at Sotheby's in New York.

The gem, originally mined in South Africa, had taken more than a year to cut, polish and perfect.

Botswana is the world's largest producer of diamonds and the trade has transformed it into a middle-income nation.

Source: BBC.com

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Mining Engineer Job vacancy - Toronto, Canada

Details: Job title: Mining Engineer Minimum Experience: 5 Years Location: Toronto, Canada Last Date: 30th November 2015 Description

GREENSTONE GOLD MINES Greenstone Gold Mines L.P. is a 50/50 joint venture partnership between Centerra Gold Inc. and Premier Gold Mines Limited formed for the purpose of the joint ownership and development of the Greenstone Gold Property including the Hardrock Gold Project located in the Geraldton-Beardmore Greenstone belt in Ontario. GENERAL ACCOUNTABILITY OF THE POSITION Responsible for assisting with detailed engineering of the Hardrock Gold Project and implementation of the Feasibility Study. Review and provide guidance on open pit mine design, optimized life of mine production planning, mine scheduling and mining equipment selection. REPORTING STRUCTURE This position reports to the Director, Mining PRIMARY RESPONSIBILITIES Participate in the development of long and short term planning strategies for the operations and for development projects Provide engineering expertise and technical advice in various stages of development of the Hardrock Gold Project Provide training and collaborate with Engineering team members Assist with the development and implementation of Greenstone's engineering policies and procedures Perform other duties as assigned Provide technical expertise to support the assumptions in the mining reserve updates Act as a resource for the Exploration team SKILLS AND COMPETENCIES Proficiency with relevant software systems (Talpac, Whittle, Gemcom, and Surpac) is an asset, along with demonstrated interest in / aptitude for further learning of such systems Ability to build a financial model, with sensitivity analyses on key inputs and assumptions, is an asset Experience with open pit and underground mining procedures is an asset Strong communications skills Team player, able to develop cooperative solutions Effectively deal with the stress of multiple demands and time pressures required to meet deadlines EXPERIENCE, QUALIFICATIONS & EDUCATION Qualified as a professional engineer (P.Eng.) as defined under National Instrument 43-101 Five (5) to seven (7) years of relevant practical experience in open pit mining operations is required; underground mining experience is an asset Previous experience in mine planning, mine design, scheduling, and mining equipment selection is essential Some experience with building a financial model for a Feasibility Study would be an asset University degree in Mine Engineering; a Master’s level degree or equivalent would be beneficial WORKING CONDITIONS This position will initially be based at the Toronto corporate office and work a 5/2 roster Some travel will be required THE SUCCESSFUL CANDIDATE MUST BE WILLING TO RELOCATE TO GERALDTON, ONTARIO, EXPECTED IN THE SECOND HALF OF 2017, IDEALLY TO TAKE ON A SENIOR ROLE SUPPORTING THE TRANSITION OF THE SITE TO MINE OPERATIONS While on site, must wear all Personal Protective Equipment including but not limited to: safety glasses, hard hat with ear protection, coveralls, work gloves, CSA approved work boots.

For More Details Visit: Centerra Gold

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Physics of Coal and Mining Process

Around the world, on average, four coal miners die for each million tons of coal recovered. Improving the safety of mining work while responding to the need for increased coal production, however, is impossible without further development of the physics of mining processes. A relatively new branch of science, it tackles problems that arise during mineral products recovery, particularly safety issues such as rock failures, coal and gas outbursts, and methane explosions.

The first book to present a unifying methodology for addressing problems such as outbursts and explosions of methane in coal mining, Physics of Coal and Mining Processes integrates theoretical and experimental research on coal and bearing rocks and examines the anthropogenic processes that occur during deep underground mining.

The book summarizes the results of recent and established research, including studies conducted at the Institute of Physics of Mining Processes of the National Academy of Sciences of Ukraine, headed by the author. Key topics covered include rock mass in multi-component compressive stress fields and phase conditions of methane in coal. The book also examines state-of-the-art instrumentation and physical methods of analysis, among them x-ray analysis of coal structures combined with computer simulation and nuclear magnetic resonance (NMR) spectroscopy combined with gas chromatography.

Bridging the gap between the academic theory and the practice of coal mining, the book proposes novel methods to predict rock mass condition, control gas-dynamic phenomena, and estimate safe mining loads. A useful reference for scientists, technicians, and engineers working in the coal industry, it also offers an overview of the physics of mining processes for students pursuing careers in the field.

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Coal Mine Safety - Terrance V Newhouse

Dramatic mine accidents early in 2006 have led to passage of the first major amendment to federal mine safety law since 1977. The Mine Improvement and New Emergency Response Act requires each mine to have an emergency plan, increased supplies of oxygen, and improved rescue teams. Penalties for violations have also been increased. Although the bill had wide support in Congress, some Members have characterized it as only a “first step,” to be followed by additional measures that would include a lower maximum limit on dust concentrations, underground refuges, communications and tracking devices, and greater emphasis on enforcement of standards. On January 2, 2006, the nation was reminded of the dangers of underground mining, as 12 miners died in an explosion and fire in the Sago mine in West Virginia.

Subsequently, the Mine Safety and Health Administration (MSHA) issued new regulations; Congress has passed the first major revision of the mine safety law since 1977 and has taken further bills under consideration; and state legislatures in West Virginia, Kentucky, and Illinois have tightened their own laws.

 These responses have emphasized factors thought to have played a part in the Sago tragedy, including emergency oxygen supplies, tracking and communication systems, and deployment of rescue teams. There have also been proposals to increase the penalties for violations of safety standards.

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Mining and Selling Radium and Uranium

Presented here is the story of the mining and sale of uranium and radium ore through biographical vignettes, chemistry, physics, geology, geography, occupational health, medical utilization, environmental safety and industrial history. Included are the people and places involved over the course of over 90 years of interconnected mining and sale of radium and uranium, finally ending in 1991 with the abandonment of radium paint and medical devices, Soviet nuclear parity, and the Radiation Exposure Compensation Act.

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Five miners rescued in Tanzania after 41 days trapped underground

Five miners have been rescued in Tanzania after surviving 41 days trapped underground by a landslide in a small-scale gold mine, but at least 12 others are still missing.

The group, who had gone underground to rescue 11 other miners when they became trapped, survived by eating roots, cockroaches and frogs, and drinking drips of muddy groundwater, Press TV reports.

The accident occurred in early October at Kahama district, Shinyanga region, near the licensed Bulyanhulu and Buzwagi gold mines, which are owned by Acacia Mining (LON:ACA), formerly African Barrick Gold.

This is one of the longest periods that miners have remained trapped underground. In Chile, 33 were rescued after 69 days in 2010

This is one of the longest periods that miners have remained trapped underground. In Chile, 33 were rescued after 69 days in 2010, in a rescue operation that gained worldwide attention.

Tanzania, Africa's fourth-largest gold producer, is also rich in diamonds, emeralds, rubies and sapphires. But illegal mining has cost the life of many since the sector began booming with economic liberalization policies applied in the mid-1980s.

Before multinationals arrived in Tanzania, small-scale miners largely conducted the extraction of minerals in the country.

According to a 2013 report by the International Institute for Environment and Development, small-scale mining in the country employs 10 times more people than large-scale mining globally. And the areas where the artisanal gold miners work remain largely unregulated, with many using child labour.

Only in the last three year more than 12,000 children as young as eight have been rescued from the country’s small-scale gold mines, according to children's rights group Plan International.

An illegal gold mine collapsed in the same district in April killing 19 people.

Source: Cecilia Jamasmie Mining.com

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Open Pit Mine Planning and Design, Third Edition

Building on the success of its 2006 predecessor, this 3rd edition of Open Pit Mine Planning and Design has been both updated and extended, ensuring that it remains the most complete and authoritative account of modern open pit mining available. Five new chapters on unit operations have been added, the revenues and costs chapter has been substantially revised and updated, and the references have been brought fully up to date..

Volume 1 deals with the fundamental concepts involved in the planning and design of open pit mines. Subjects covered are mine planning, mining revenues and costs, orebody description, geometrical considerations, pit limits, production planning, mineral resources and ore reserves, responsible mining, rock blasting, rotary drilling, shovel loading, haulage trucks and machine availability and utilization.

Open Pit Mine Planning and Design is an excellent textbook for courses in surface mine design, open pit design, geological and excavation engineering, and in advanced open pit mine planning and design. The principles described apply worldwide. In addition, the work can be used as a practical reference by professionals. The step-by-step approach to mine design and planning offers a fast-path approach to the material for both undergraduate and graduate students. 

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Guidelines for Open Pit Slope Design

Guidelines for Open Pit Slope Design is a comprehensive account of the open pit slope design process. Created as an outcome of the Large Open Pit (LOP) project, an international research and technology transfer project on the stability of rock slopes in open pit mines, this book provides an up-to-date compendium of knowledge of the slope design processes that should be followed and the tools that are available to aid slope design practitioners. 

This book links innovative mining geomechanics research into the strength of closely jointed rock masses with the most recent advances in numerical modelling, creating more effective ways for predicting the reliability of rock slopes in open pit mines. It sets out the key elements of slope design, the required levels of effort and the acceptance criteria that are needed to satisfy best practice with respect to pit slope investigation, design, implementation and performance monitoring. 

This book will assist open pit mine slope design practitioners, including engineering geologists, geotechnical engineers, mining engineers and civil engineers and mine managers, in meeting stakeholder requirements for pit slopes that are stable, in regards to safety, ore recovery and financial return, for the required life of the mine.

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Statistics for Mining Engineering - 2014

Many areas of mining engineering gather and use statistical information, provided by observing the actual operation of equipment, their systems, the development of mining works, surface subsidence that accompanies underground mining, displacement of rocks surrounding surface pits and underground drives and longwalls, amongst others. In addition, the actual modern machines used in surface mining are equipped with diagnostic systems that automatically trace all important machine parameters and send this information to the main producer’s computer. Such data not only provide information on the technical properties of the machine but they also have a statistical character. Furthermore, all information gathered during stand and lab investigations where parts, assemblies and whole devices are tested in order to prove their usefulness, have a stochastic character. All of these materials need to be developed statistically and, more importantly, based on these results mining engineers must make decisions whether to undertake actions, connected with the further operation of the machines, the further development of the works, etc. For these reasons, knowledge of modern statistics is necessary for mining engineers; not only as to how statistical analysis of data should be conducted and statistical synthesis should be done, but also as to understanding the results obtained and how to use them to make appropriate decisions in relation to the mining operation.

This book on statistical analysis and synthesis starts with a short repetition of probability theory and also includes a special section on statistical prediction. The text is illustrated with many examples taken from mining practice; moreover the tables required to conduct statistical inference are included.

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The Science of Mining

The Science of Mining gives secondary science teachers ideas to promote student leaning in earth science and other science concepts in the context of mining activities in Queensland.

The material is organised around outcomes focusing on a key question asked by students about rocks, minerals and mining. 

This resource will help you explore everything from plate tectonics, demonstrate different exploration and drilling techniques, role play environmental management scenarios and explore the chemistry behind a blast furnace or electrolysis.

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Universities offering masters degree in mining engineering - Australia

The mining industry is always on the lookout for the best new talent. Whether you want to hire employees with the right educational background or you want to accelerate your career in the mining sector, the following universities offer mining specific study programs and prepare graduates for a career in the mining industry. 

The following is the  list of  Universities, which are offering Graduate programs in Mining Engineering in the United States America.

S.No.	Name of the University	Name of the Course	Course Duration	TOEFL	IELTS
1	Curtin University	Master of Engineering Science (Mining)	2 Years		6.5
2	Federation University	Master of Mining Engineering	1.5 Years	79 - 80	6.0
3	Federation University	Master of Engineering Technology (Mining)	2 Years	79 - 80	6.0
4	University of Wollongong	MASTER OF ENGINEERING (MINING ENGINEERING)	2 Years	79	6.0
5	University of Adelaide	Master of Engineering (Mining)	2 Years	60	6.0
6	University of Adelaide	Master of Engineering (Mining) Research	2 Years	79	6.5
7	University of Western Australia	Master of Professional Engineering	2 Years	82	6.5
8	University of Western Australia	Master of Engineering (Mining) Research	2 Years	82	6.5
9	University of New South Wales	Master of Mining Engineering	1.5 Years	90	6.5

For more details regarding Mining Universities contact Us @ miningengineersworld@gmail.com

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Universities offering masters degree in mining engineering - Canada

The mining industry is always on the lookout for the best new talent. Whether you want to hire employees with the right educational background or you want to accelerate your career in the mining sector, the following universities offer mining specific study programs and prepare graduates for a career in the mining industry.

The following is the  list of  Universities, which are offering Graduate programs in Mining Engineering in the United States America.

S.No.	Name of the University	Name of the Course	Course Duration	TOEFL	IELTS
1	University of British Columbia	Master of Engineering	13months + 8m internship		6.5
2	University of British Columbia	Master of Applied Science	2 Years		6.5
3	University of Alberta	Master of Science	18 Months		6.5
4	University of Alberta	Master of Engineering	9 Months		6.5
5	University of Alberta	MS Geotechnical	18 Months		6.5
6	University of Alberta	M.Eng Geotchnical	9 Months		6.5
7	Mcgill University	M.Eng Mining&Materials Engg	2 Years		6.5
8	Mcgill University	MS Mining&Materials Engg	2 Years		6.5
9	Mcgill University	M.Eng Mining&Materials Engg (Thesis)	2 Years		6.5
10	Mcgill University	MS Mining&Materials Engg (Thesis)	2 Years		6.5
11	Queens University	Masters of Applied Science	2 Years	88	7
12	Queens University	Master of Engineering	1 Year	88	7
13	University of Toronto	Master of Engineering	12 - 24 Months	93	7
14	University of Toronto	Masters of Applied Science	20 - 24 Months	93	7
15	Dalhousie University	M Eng Mineral Resource Engg.	2 Years	92	7
16	Dalhousie University	MASc Mineral Resource Engg.	2 Years	92	7
17	Laurentian University	Master of Engineering (Natural Resources Engineering)		88	6.5
18	Laurentian University	Master of Engineering (Natural Resources Engineering)	2 Years	88	6.5

For more details regarding Mining Universities contact Us @ miningengineersworld@gmail.com

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Apprenticeship Training Notification - Telangana

The Board of Apprenticeship Training ( Southern Region),Government of India, Chennai and Department of Technical Education, Government of Telangana, Hyderabad, jointly organizing the centralized walk in interviews to Degree or Diploma holders in Engineering pass outs ( On or After April 2013) for Apprenticeship Training in reputed organisations (Government and Private).

Notification:

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AP govt puts bauxite mining on hold

Bowing to huge pressure from tribal groups and Maoist threats, the Telugu Desam Party (TDP) government of Andhra Pradesh has put on hold its bauxite-mining plans in Visakhapatnam and Vizainagaram districts.

The state cabinet, which met in Vijayawada on Monday, deliberated on the issue with a fine tooth-comb and decided to first hold talks with local tribal leaders before taking any decision on mining in the hills -- considered sacred by tribals.

The cabinet meeting chaired by chief minister N Chandrababu Naidu directed the AP Mineral Development Corporation (which was given the mining lease), not to apply for clearances and permissions from the Centre.

The U-turn on the bauxite-mining issue by the AP government occurred after several ministers, particularly those from the north coastal districts, pleaded with the chief minister not to move forward as many tribal village heads were apprehensive about pollution and displacement due to the mining. They also informed the chief minister of the death threats they were receiving from Maoist outfits.

The decision to back out comes in the backdrop of widespread public outrage and fears of past attacks -- mining company choppers attacked by arrows -- haunting the government. There are also reports that Maoist rebels have already taken advantage of the public anger and are rallying behind the tribals. Last month, Maoists abducted three members of the TDP from Chintapalle in the Agency area, and demanded that the AP government cancel mining plans.

Panchayat Raj minister Ch Ayyanna Patrudu said he has already received threats from Maoists and the police beefed up his security in wake of the threat.

"We have been asked to go slow on the issue and not to expedite permissions and clearances from the Union environment ministry. It is now certain that the state government does not want to move forward on bauxite-mining," said a senior official in the government.

Interestingly, the AP government was planning to involve local tribal leaders in mining by initiating negotiations with them. Naidu asked his ministers to counter the "propaganda" that the TDP government has been the initiator of bauxite-mining. He asked his ministers to clarify that the mining lease orders were originally issued during YS Rajasekhara Reddy's regime and it was the then Congress government that leased out bauxite-mining to private companies.

Source: The Times Of India

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India finalizes uranium deal with Australia

Despite not signing the nuclear non-proliferation treaty, India will be allowed to import uranium from Australia for civilian purposes.

On Sunday the two countries finalized a deal that has been in the works for three years, with Indian Prime Minister Modi and Australian PM Malcolm Turnbull making statements on the sidelines of the G20 summit in Turkey and on social media.

“PM @narendramodi thanked PM @TurnbullMalcolm and described the nuclear agreement as a milestone & source of trust & confidence,” tweeted Vikas Swarup, from the Indian foreign ministry. “With the completion of procedures, including administrative arrangements, the #IndiaAustralia Civil Nuclear Agreement will enter into force.”

The seeds of the agreement were sown by then-Australian PM Julia Gillard, who promised during a state visit in 2012 to supply uranium to India, which faces severe shortages of electricity and has limited nuclear capacity. Two years later Gillard's successor, Tony Abbott, signed a memorandum of understanding for “Cooperation in the Peaceful Uses of Nuclear Energy” whereby Australia would become a long-term supplier of uranium to India.

The agreement means India is the first country to buy yellowcake from Australia, that has not signed the international treaty to prevent the spread of nuclear weapons.

While India faced Western sanctions in 1998 after testing nuclear weapons, the sanctions were lifted after a deal with the United States in 2008 that included safeguards against using the nuclear fuel for weapons production.

According to the World Nuclear Association, India currently has 21 operating reactors with a capacity of 4,780 megawatts, or 2 percent of India's total power supply. The country plans to increase its nuclear capacity to 63,000 MW by 2032, by adding close to 30 reactors at a cost of $85 billion, Hindustan Times reported.

India is actively seeking agreements with foreign powers in order to reach that goal, on top of the nuclear agreements it currently has with 11 countries and deals to import uranium from Russia, France, Kazakhstan and Canada.

Concerned about running out of nuclear fuel, in July India created a strategic uranium reserve to ensure that its atomic reactors can keep producing electricity without interruption.

The finalized supply deal with Australia could be quite lucrative for Australian uranium producers and uranium mines, which include BHP Billiton's (NYSE:BHP) Olympic Dam, Ranger, Beverley, Four Mile and Honeymoon.

An Australian parliamentary committee that supported the deal said in September the arrangement could increase export revenues by $1.75 billion.

Mark Chalmers, chair of the Australian Uranium Council, told ABC News that Australia could double or triple its uranium production to meet India's needs, although for that to happen, the price of uranium would have to almost double, he added.

Australia currently has about 40 percent of the world's uranium reserves, and is the number three producer of the nuclear fuel, behind Kazakhstan and Canada.

Source: Andrew Topf Mining.com

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