Fast-Tracked US Uranium Project Receives Federal Approval

Anfield Energy Inc. has received approval from the US Department of the Interior for its Velvet-Wood uranium-vanadium project in San Juan County, Utah, following a review by the Bureau of Land Management completed in under 14 days. The approval, announced on May 14, 2025, marks the first project authorized under an accelerated review process initiated in response to a national energy emergency declared by President Donald Trump in January 2025.

Velvet-Wood, in Utah

The Velvet-Wood project, acquired by Anfield from Uranium One in 2015, comprises two historically significant areas. The Velvet deposit, previously mined by Atlas Minerals from 1979 to 1984, produced approximately 4 million pounds of U3O8 and 5 million pounds of V2O5. The Wood area, explored by Uranerz between 1985 and 1991, was not mined. Current estimates indicate the combined Velvet and Wood areas hold 4.6 million pounds of U3O8 in measured and indicated resources, with an additional 552,000 pounds in inferred resources.

Doug Burgum, Secretary of the Interior, stated: “This approval marks a turning point in how we secure America’s mineral future. By streamlining the review process for critical mineral projects like Velvet-Wood, we’re reducing dependence on foreign adversaries and ensuring our military, medical, and energy sectors have the resources they need to thrive.” The project involves restarting the Velvet Mine and developing the Wood mineralization, with minimal new surface disturbance of three acres, as most work will occur underground targeting known deposits.

Corey Dias, CEO of Anfield Energy, said: “We are very pleased that the Department of the Interior has greenlit our Velvet-Wood project in an expedited manner. This confirms our view that Velvet-Wood was well-suited for an accelerated review, given that it is a past-producing uranium and vanadium mine with a small environmental footprint. The Company will now pivot to advancing the project through construction and, ultimately, to production.”

Anfield is also preparing its Shootaring Canyon mill, one of three licensed conventional uranium mills in the US, for production. The mill has been on standby since 1982. The Velvet-Wood project’s approval supports efforts to strengthen domestic mineral supply chains, contributing to energy security and economic growth in Utah. By leveraging existing infrastructure and focusing on minimal environmental impact, the project aligns with broader goals to enhance the US nuclear industry’s capacity and reliability.