NTI in Action: Creating an International Nuclear Fuel Bank

To help prevent the spread of uranium enrichment technology, NTI has pledged $50 million to the International Atomic Energy Agency (IAEA) to help create a low-enriched uranium stockpile to support nations that make the sovereign choice not to build indigenous nuclear fuel cycle capabilities. NTI's funds will be released if the IAEA takes the necessary steps to set up the fuel bank and other nations provide $100 million in matching funds.
As more nations seek nuclear energy, concerns have been raised about the nuclear fuel cycle. The report of the UN High Level Panel on Threats said that "...the proliferation risks from the enrichment of uranium and from the reprocessing of spent fuel are great and increasing."
Former Senator Sam Nunn, Co-Chairman of NTI, said in a speech announcing NTI's pledge, "We envision that this stockpile will be available as a last-resort fuel reserve for nations that have made the sovereign choice to develop their nuclear energy based on foreign sources of fuel supply services-and therefore have no indigenous enrichment facilities. The goal of this proposed initiative is to help make fuel supplies from the international market more secure by offering customer states, that are in full compliance with their nonproliferation obligations, reliable access to a nuclear fuel reserve under impartial IAEA control should their supply arrangements be disrupted. In so doing, we hope to make a state's voluntary choice to rely on this market more secure."
While the idea for a fuel reserve is not new, there has been discussion of it, in some form, for several decades, and it is provided for in the International Atomic Energy Agency's statute. NTI's commitment is intended to help move the discussion from words to deeds in this vital area of nuclear cooperation.
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International Nuclear Fuel Bank Developments
United Arab Emirates (UAE) Commits $10 Million to IAEA Fuel Reserve
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Read NTI news release August 7, 2008
Read IAEA news release August 7, 2008
Norway contributes $5 Million to IAEA Nuclear Fuel Reserve
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Read the news release February 27, 2008
Read IAEA news report February 28, 2008
U.S. Government Commits $50 million for IAEA Fuel Bank
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Read the news release August 4, 2008
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Read the World Nuclear News article January 10, 2008
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Read IAEA news report January 9, 2008
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Read the news release December 28, 2007
Senator Nunn Testifies Before House Committee on Foreign Affairs on Nuclear Weapons Policy and Nuclear Fuel Assurances
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Read the testimony May 10, 2007
Nuclear Threat Initiative Commits $50 Million to Create IAEA Nuclear Fuel Bank
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Read the news release September 19, 2006
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Read the speech by Sam Nunn September 19, 2006
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Read the speech by Laura Holgate September 19, 2006
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Read The New York Times editorial September 28, 2006
Related Resources
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"Reforming the Nuclear Fuel Cycle: Time Is Running Out," by Dr. Fiona Simpson, Arms Control Today, September 2008
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"Managing the Nuclear Fuel Cycle: Policy Implications of Expanding Global Access to Nuclear Power," CRS Report for Congress. Updated September 3, 2008
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A panel discussion "Realizing Fuel Assurances: Third Time's the Charm?" at 2007 Carnegie International Nonproliferation Conference. The panel featured Laura Holgate, Nuclear Threat Initiative, Caroline Jorant, AREVA, Tariq Rauf, International Atomic Energy Agency, Ambassador Pedro Raul Villagra Delgado, Ministry of Foreign Affairs, Argentina.
Read event transcript June 25, 2007 -
"News Analysis: The Growing Nuclear Fuel-Cycle Debate," by Oliver Meier, Arms Control Today, November 2006
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IAEA Special Event on: "New Framework for the Utilization of Nuclear Energy in the 21st Century: Assurance of Supply and Nonproliferation," Vienna, Austria. September 20, 2006
Report of the Chairman of the Special Event, Mr. Charles Curtis -
"Ensuring Security of Supply in the International Nuclear Fuel Cycle," World Nuclear Association Report
May 12, 2006 "Multilateral Approaches to the Nuclear Fuel Cycle: Expert Group Report submitted to the Director General of the International Atomic Energy Agency" February 22, 2005






