Abstract
The rapid increase in the price of uranium and recent increases in the cost of uranium enrichment and prospective costs of fuel reprocessing suggest that long irradiations of fuel and the post-ponement of fuel reprocessing would give the lowest cost fuel cycles. The flexibility of using two separate fuels appears to leave the cost advantage with such cycles avoiding any reprocessing of plutonium-bearing fuels and extraction of uranium-233 from thorium fuels only after several years of irradiation. The resulting fuel cycle costs in prospect can be low and very attractive. The analysis employs the LATREP code.
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