A fuel basket apparatus, system and method for storing high level radioactive waste. In one aspect, the invention is an apparatus suitable for transporting and/or storing spent nuclear fuel rods comprising: a basket formed from a honeycomb-like gridwork of plates arranged in a rectilinear configuration, the gridwork of plates forming a plurality of cells for receiving spent nuclear fuel rods; the basket comprising one or more flux traps that regulate production of neutron radiation; and wherein the plates are constructed of a metal matrix composite material. In another aspect, the invention is an apparatus suitable for transporting and/or storing spent nuclear fuel rods comprising: a basket formed from a honeycomb-like gridwork of plates arranged in a rectilinear configuration, the gridwork of plates forming a plurality of cells for receiving spent nuclear fuel rods; the basket being formed by a plurality of segments arranged in a stacked assembly; each segment comprising a honeycomb-like gridwork of plates arranged in the rectilinear configuration, wherein each segment comprises a plurality of top and bottom slots arranged so that when the segments are arranged in the stacked assembly, the top slots of each segment intersect with the bottom slots of the adjacent segment; and wherein the entire basket is formed of plates having no more than three different configurations.