Given the cost of uranium, reprocessing the spent fuel is not economically feasible. The spent fuel can be safely stored either onsite at each plant or in a recoverable central repository. When there are enough plants built and running, and the curent closed uranium mines are re-opened and running full tilt, then it may be time to think about re-processing spent fuel.
Then why does Japan, Russia, England and France all reprocess fuel?
Processing of Used Nuclear Fuel for Recycle
http://www.world-nuclear.org/info/inf69.htm