Pages 90-91 from FO 371 110691 - Atomic Energy

The document discusses considerations related to the International Atomic Bank and the International Agency for nuclear energy. The main points outlined include:

1. President Eisenhower's proposals require an examination of how the Agency and Bank would function if the Soviet Union agreed in principle.
2. The objectives are to establish a central bank for uranium and fissile material, provide abundant electrical energy in power-starved regions, and encourage research into peacetime uses of fissile materials.
3. An assessment is made of existing uranium supplies and their potential contribution to global power generation. If used in reactors, current supplies could double power outside the USA. Large-scale power breeders could further increase this potential.
4. The Agency's initial objective should be the development of improved and economical thermal reactor power stations as prototypes. Additionally, more advanced designs like fast breeders and homogeneous thermal breeders could be considered.
5. The document suggests constructing at least 3 power reactors as part of the initial development program, with a capital cost of approximately £25 million. It also proposes the establishment of an International Laboratory for nuclear energy.
6. The operation of the Bank, involving loaning uranium and fissile material, appears administratively feasible, with physical security measures in place.
7. The second stage of the program could involve the construction of power stations to double world output, requiring a significant annual capital investment.
8. The provision of reactors for isotope production is deemed adequately addressed by existing national laboratories, thus not requiring Agency involvement.

The document is dated December 23, 1953, and includes copies to various individuals, including Sir Edwin Plowden, Sir Pierson Dixon, Lord Cherwell, Mr. F.C. How, and J.D. Cockcroft.