Doug Burgum pictured on his first day in office in February
Secretary of the Interior Doug Burgum emphasized the significance of the fast-tracked review, stating: "The expedited mining project review represents exactly the kind of decisive action we need to secure our energy future." He further highlighted that this move would help support American jobs and strengthen national security by reducing dependency on foreign energy sources, setting the country on a path toward greater energy independence.
Anfield Energy acquired the Velvet-Wood uranium and vanadium mine from Uranium One in 2015. The mine has a history of production, with around 4 million pounds of U3O8 and 5 million pounds of V2O5 extracted from the Velvet deposit between 1979 and 1984 by its previous owner, Atlas Minerals. The combined Velvet and Wood mines are currently estimated to contain 4.6 million pounds of measured and indicated U3O8 resources, alongside 552,000 pounds of inferred resources.
In May 2024, Anfield submitted a Plan of Operation for the mine to both the State of Utah and the Bureau of Land Management. This plan includes operating actions, controls for reclamation, and a surety estimate based on third-party costs. The goal is to bring the Velvet-Wood mine to a production-ready status alongside the company’s Shootaring Canyon mill. The project’s development is aligned with both state and federal regulatory requirements.
Anfield’s CEO, Corey Dias, expressed his satisfaction with the decision to prioritize Velvet-Wood, noting that the mine’s small environmental footprint and its status as a past-producing uranium and vanadium site made it an ideal candidate for expedited review. Dias highlighted the importance of this move for the company, stating: "This marks a major milestone for Anfield as we look to play a meaningful role in rebuilding America's domestic uranium and vanadium supply chain and reducing reliance on imports from Russia and China."
Anfield is listed on the TSX Venture Exchange, OTCQB Marketplace, and the Frankfurt Stock Exchange. The company is also pursuing a listing on NASDAQ as part of its broader expansion plans.
