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Russia to set up “uranium bank” to expand demand for nuclear power

...The bank will allow countries that join the facility to obtain uranium from the stockpile, supplied entirely by Russia, if commercial uranium markets are frozen for political reasons.

Russia’s Rosatom Corp to create a uranium fuel bank with the International Atomic Energy Agency Seeker 401, 12 April 2010, Rosatom Corp., Russia’s state-run nuclear holding company, said its agreement to create a uranium fuel bank with the International Atomic Energy Agency will help expand demand for nuclear power.
The 120-ton uranium stockpile “means countries will have supply assurance and reliability, which means the global market will become bigger,” Rosatom Director General Sergei Kirienko said today at a press conference in Vienna. “The supplied stock will be paid for at market price.”The uranium, enough to load two nuclear reactors, will be stored under IAEA seal in the Russian city of Angarsk, 5,150 kilometers (3,200 miles) southeast of Moscow…
….The bank will allow countries that join the facility to obtain uranium from the stockpile, supplied entirely by Russia, if commercial uranium markets are frozen for political reasons. The IAEA will be tasked with determining whether the uranium shipment is warranted. Russia’s Rosatom Corp to create a uranium fuel bank with the International Atomic Energy Agency « Follow The Money

April 12, 2010 - Posted by Christina Macpherson | business and costs, Russia | antinuclear, nuclear, nuclear costs, nuclear spin, nuclear technology, uranium