Use of thorium in fast reactors has typically been considered as a secondary option, mainly thanks to a possible self-sustaining thorium cycle already in thermal reactors and due to the limited breeding capabilities compared to U–Pu in the fast neutron energy range. In recent years nuclear waste management has become more important, and the thorium option has been reconsidered for the claimed potential to burn transuranic waste and the lower build-up of hazardous isotopes in a closed cycle. To ascertain these claims and their limitations, the fuel cycle isotopic inventory, and associated waste radio-toxicity and decay heat, should be quantified and compared to the case of the uranium cycle using realistic core configurations, with complete ...