The International Atomic Energy Agency (IAEA), with the Government of Kazakhstan and the Nuclear Threat Initiative (NTI), has launched a new low enriched uranium (LEU) bank in Kazakhstan. The LEU Bank will provide countries investing in nuclear power an assured supply of fuel to use for peaceful purposes without incurring the significant costs of building their own enrichment facilities and without adding to global proliferation risks. The Bank, jump-started by NTI more than a decade ago with an investment of $50 million from Warren Buffett, will be owned and managed by the IAEA and is the first of its kind not to be under control of any individual country.
“The launching of the IAEA LEU Bank is a major milestone for global nuclear security and nonproliferation efforts,” said former U.S. Senator Sam Nunn, NTI Co-Chairman. “The Bank will play an important role in reducing nuclear dangers and serve as a vivid example of the benefits of international cooperation at a time when our world is in a race between cooperation and catastrophe.”
Source: IAEA Low Enriched Uranium Bank Launches in Kazakhstan, Significant Milestone for NTI-Backed Nuclear Security Initiative | NTI News IAEA Low Enriched Uranium Bank Launches in Kazakhstan, Significant Milestone for NTI-Backed Nuclear Security Initiative | NT