India doubles its Uranium reserves

Uranium ore

India's Atomic Energy Commission disclosed a new uranium discovery in Tummalapalle in Kadapa district, state of Andhra Pradesh, with reserves of 150.000 tonnes effectively doubles India's Uranium reserves.

India's nuclear energy programme is under-supplied and the new source is most welcome to keep it viable and limit its dependence from foreign suppliers. On the nuclear weapons front, India's pursuit of a nuclear triad is also increasing demand: soon the first of its Arihant class of nuclear-powered, nuclear-armed submarines will be operational, more will follow.

Clearly good news for India, but may yet prove to be a factor in global instability. India first nuclear weapon was designated PNE, for 'peaceful nuclear explosive', such irony may fail to make its neighbours smile.

Pakistan, although lacking indigenous uranium, may feel compelled to compete. With the country on an uncontrolled downward spiral, some in Islamabad may take less than reasonable decisions, and more seriously we are all wondering when will a Pakistani nuclear warhead reach the wrong hands. China too, may see this as a threat, specially in terms of projected power and rivalry in the oceans, though we shouldn't expect any actions from the People's Republic that defy either prudence or intelligence.

INS Arihant - Indian nuclear submarine under construction (based on the Soviet Akula class)

Mining: 30% of exploration companies expected to close

Independent research organization the Fraser Institute has released its Survey of Mining Companies 2008/2009, based on the opinions of 658 mining executives and managers worldwide.

Economic slowdown led the vast majority of mining executives to expect a severe contraction in exploration activity, and at least 30 percent of exploration companies going out of business.

Udachnaya pipe open-pit diamond mine, Yakutia, Russia

Brazil: World's Third-Largest Oil Field

Petrobras, Brazil’s state-owned oil company, announced the discovery of the potential Carioca deepwater oil field, stating that it may hold 33 billion barrels of oil, making it the third-largest oil field ever discovered. Assuming Petrobras meant oil-in-place reserves, recoverable reserves should be about a third of this.


The Carioca area lies in the Atlantic, west of Tupi filed in the fertile Santos basin, off the coast of Sao Paulo state.


“It could be the world’s biggest discovery in the past 30 years, and the world’s third-biggest currently active field,” Haroldo Lima, head of the government’s oil and fuel market regulator, told reporters at an industry event in Rio de Janeiro.


Petrobras also has said previously it sees good prospects for major oil finds in the subsalt areas in the Campos and Espirito Santo basins north of Santos, but it is focusing mainly on Santos at the moment.