IAEA fuel bank meets funding goal

Uranium Investing News & U308.biz reports the IAEA meets its 100 million nuclear fuel bank funding goal with its recent contribution from Kuwait.

NTI, of which Buffet is an advisor, is an international charitable organization formed with the intent to reduce worldwide threats from chemical, biological, and in this case, nuclear weapons. In 2006, Buffett donated $50 million to create a uranium fuel bank that would be under the control of the International Atomic Energy Agency (IAEA). The donation was made with two stipulations: 1) the IAEA receive an additional $100 million in funding (or equivalent value of uranium); and 2) the IAEA take action to approve establishment of the reserve.

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