Cameco has reached an agreement with BHP Billiton.

It's not on Saskatchewan land, it's in Western Australia.

Cameco has reached an agreement with BHP to acquire the Yeelirrie uranium project for 430-million dollars U.S.

This is one of Australia's largest undeveloped uranium projects, and it's about 750 kilometres south of Cameco's Kintyre exploration and 650 kilometres northeast of Perth.

Cameco expects the transaction to close by the end of this year, subject to approvals from the government of Western Australia and the Australian Foreign Investment Review Board.

Cameco, based out of Saskatoon, is one of the world's largest uranium producers.

(ct aug27/12)