Kazakhstan to receive commercial benefit from location of IAEA LEU Bank

24 August, 2015 16:54

Kazakhstan will receive a commercial benefit from IAEA Low-Enriched-Uranium Bank, which will be located in the territory of Ulba Metallurgical Plant in Ust-Kamenogorsk, Director of the Department of nuclear fuel cycle projects of "NC "Kazatomprom" JSC Sergei Krechetov has said.

"The IAEA will announce a tender for the supply of uranium hexafluoride in the Bank, and we intend to participate and will qualify for the supply of 90 tons of uranium. Thus, we can get the commercial benefit", S.Krechetov has said.

If "Kazatomprom" wins the tender for the supply of uranium hexafluoride, the profits on the basis of current prices will reach 120 million dollars. At the same time, the company in the long term will have a possibility to supply fuel assemblies of different specifications.

“In fact it is only the first step, and the world needs independent and guaranteed supply of fuel, bit not raw material for fuel. Due to the fact "Kazatomprom" actively works on the production of fuel assemblies, it would not be surprising that we can get this status through the IAEA to continue to supply not uranium hexafluoride but fuel assemblies of different specifications, specifications of Russia or Westinghouse , Areva”, he has noted.

Low-enriched uranium is a key component necessary for the production of nuclear fuel. LEU bank in Kazakhstan is funded entirely by voluntary contributions.

Anara Tanyrkulova

allnews