Uranium Bank

Kazakh President opens IAEA Low Enriched Uranium Bank

Question- At which of the following places Uranium Bank was started recently by the International Atomic Energy Agency?
(a) Uzbekistan
(b) Kazakhstan
(c) Turkmenistan
(d) Armenia
Answer: (b)
Related Facts:

  • On August 29th, 2017, Uranium Bank was started by the International Atomic Energy Agency in Kazakhstan.
  • It is world’s first Low Enriched Uranium Bank under the auspices of the IAEA started for global cooperation.
  • Its aim is to ensure the supply of nuclear fuel in spite of any hindrance caused in the various countries of the world.
  • The IAEA LEU (Low Enriched Uranium) Bank will be a physical reserve of up to 90 metric tons of low enriched uranium.
  • The IAEA LEU Bank will be located at the Ulba Metallurgical Plant in Oskemen, Kazakhstan.
  • This low enriched uranium is suitable to make fuel for a typical light water reactor, the most widely used type of nuclear power reactor worldwide.
  • The Bank is part of global efforts to create an assured supply of nuclear fuel to countries in case of disruption of the open market or of other existing supply arrangements for LEU.
  • This bank has been started with the objective of keeping the smooth supply of the enriched uranium.
  • According to the International Atomic Energy Agency, this storage is for those conditions where any member of the United Nations cannot achieve nuclear fuel for any reason.
  • For this project financial aid was provided by the United States America, more than two dozen countries of the European Union, Kuwait, United Arab Emirates and Norway.
  • The International Atomic Energy Agency was created on July 29, 1957, with its headquarters located in Vienna, Austria.

Reference:
http://www.kazatomprom.kz/en/news/kazakh-president-opens-iaea-low-enriched-uranium-bank
https://www.iaea.org/topics/iaea-low-enriched-uranium-bank
http://www.business-standard.com/article/news-ians/kazakhstan-opens-iaea-low-enriched-uranium-bank-117083000040_1.html
https://sputniknews.com/asia/201708291056907312-uranium-bank-kazakhstan-fuel-2018/
http://www.jagran.com/news/world-united-nation-opened-uranium-bank-in-kazakhstan-16620397.html