Kazakh Parliament ratifies agreement on IAEA Low Enriched Uranium Bank
ASTANA. KAZINFORM - The Senate of the Parliament of the Republic of Kazakhstan has adopted today the Law "On ratification of the Agreement between the Government of the Republic of Kazakhstan and the International Atomic Energy Agency (IAEA) on the creation of the IAEA Low Enriched Uranium Bank in Kazakhstan", Kazinform correspondent reports.
Energy Minister Kanat Bozumbayev who introduced the draft law noted that the IAEA Low Enriched Uranium (LEU) Bank is established as an assurance of supply mechanism of last resort and will be a physical reserve of LEU available for eligible IAEA member states. "The decision to establish the IAEA LEU was made in 2006," Bolumbayev added.
In his words, the IAEA chose Kazakhstan as the location for its LEU Bank as it has a non-nuclear status, a proven experience in civil nuclear supply and a modern infrastructure. The Ulba Metallurgical Plant in Ust-Kamenogorsk, East Kazakhstan region was chosen as the location of the IAEA LEU Bank. The plant is a licensed nuclear site with commercial scale operations and the complete infrastructure to safely and securely store, transport and process LEU.
Low enriched uranium is the basic ingredient to produce nuclear fuel. It is made by enriching naturally occurring uranium to improve its ability to produce energy. Steel cylinders will be used to store and transport LEU.