OREANDA-NEWS. May 28, 2009. The detailed proposal for creating a safety stock of low enriched uranium at the International Uranium Enrichment Center in Angarsk will be submitted to the Board of Governors of the International Atomic Energy Agency in June-Sept 2009, Director General of the International Uranium Enrichment Center Aleskey Lebedev said while speaking at Atomexpo 2009 on May 27 2009.

“The objective of this project is to create a mechanism of guarantees of uranium supplies for all the countries complying with the nuclear nonproliferation regime where supplies have been stopped as a result of political force majeure rather than for technical or commercial reasons,” Lebedev said.

The safety stock will consist of 120 tons of low enriched uranium in the form of 2.00%-4.95% enriched UF6, which is enough for two refuelings of a 1000MW reactor. The stock will be kept at the International Uranium Enrichment Center in Angarsk. It is for the Director General of the IAEA to pass a decision on the allocation of uranium from the stock. The price of the uranium will be based on spot market quotations published by internationally recognized companies.

Lebedev also presented the plans to enlarge the membership of the Center. “Presently, we are negotiating with India, South Korea and South African Republic.” 

“Each new participant in the project may get 10% of the Center at a reasonable price. – 2.6mln RUR (almost \\$80,000). In 2009 we are planning to finalize the preparations for the conclusion of Russia-IAEA and IUEC-IAEA agreements on safety stock as well as to organize the storage area and to conclude necessary contracts. In 2010–2015 we will create the safety stock, attract new shareholders and organize supplies. In 2016–2030 we will maintain the stock and enlarge the membership of the Center by admitting the countries wishing to develop nuclear energy,” Lebedev said.