LFTR is a type of Molten Salt Reactor with equipment to convert plentiful thorium into uranium (U233) to use as fuel. It can also use plutonium from LWR (Light Water Reactor) waste. LFTR is not very efficient at using depleted uranium (need a Fast-Spectrum reactor to fission U-238 effectively; in a thermal-spectrum reactor like LFTR or LWR, would convert some U-238 to plutonium which is fissile).
Because a LFTR fissions 99%+ of the fuel (whether thorium, or plutonium from nuclear waste), it consumes all the uranium and transuraniums leaving no long-term radioactive waste. 83% of the waste products are safely stabilized within 10 years. The remaining 17% need to be stored less than 350 years to become completely benign.
“LFTR technology can also be used to reprocess and consume the remaining fissile material in spent nuclear fuel stockpiles around the world and to extract and resell many of the other valuable fission byproducts that are currently deemed hazardous waste in their current spent fuel rod form. The U.S. nuclear industry has already allocated $25 billion for storage or reprocessing of spent nuclear fuel and the world currently has over 340,000 tons of spent LWR fuel with enough usable fissile material to start one 100 MWe LFTR per day for 93 years. (A 100 MW LFTR requires 100 kg of fissile material (U-233, U-235, or Pu-239) to start the chain reaction). LFTR can also be used to consume existing U-233 stockpiles at ORNL ($500 million allocated for stockpile destruction) and plutonium from weapons stockpiles.”
FS-MSRs essentially avoid the entire fuel qualification issue in that they are tolerant of any fissile material composition, with their inherent strong negative thermal reactivity feedback providing the control necessary to accommodate a shifting fuel feed stream. Fast Spectrum Molten Salt Reactor Options,
Some of the pictures are from a slide presentation given by David Archibald in Melbourne Feb 5 2011. He posted it “for the benefit of all” which I have interpreted as waving the copyright of the pictures