Wednesday, 28 May 2025
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The project is the first to be approved under a new accelerated review process launched as part of a strategic response to the national energy emergency declared by President Donald Trump in January. The Department of the Interior (DOI) announced on 14 May that it had selected Velvet-Wood for expedited review.
The DOI announced its approval of the project on the same day that Trump signed a raft of executive orders aimed at reinvigorating the US nuclear industry and supply chain, with aims to quadruple US nuclear generating capacity by 2050.
“This approval marks a turning point in how we secure America’s mineral future,” Secretary of the Interior Doug Burgum said. “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. This is mineral security in action.”
Anfield acquired the Velvet-Wood project, along with other conventional uranium mining assets, from Uranium One in 2015. The two areas making up the project had been historically held by separate companies: previous owner Atlas Minerals recovered some 4 million pounds U3O8 (1539 tU) – as well as 5 million pounds of V2O5 – from the Velvet deposit between 1979 and 1984. The Wood area was drilled by then-owner Uranerz between 1985 and 1991, but was not mined. The combined Velvet and Wood historical mines are currently estimated to contain 4.6 million pounds U3O8 of measured and indicated resources and inferred resources of 552,000 pounds U3O8.
“With the final environmental assessment completed by the Bureau of Land Management, Anfield Energy has the necessary approval from Interior for restarting the old Velvet Mine and developing the nearby Wood mineralisation,” the DOI said. With most of the work taking place underground and targeting known mineral deposits left from earlier operations, the operation will result in only three acres (1.2 hectares) of new surface disturbance, it added.
“We are very pleased that the Department of the Interior has greenlit our Velvet-Wood project in an expedited manner,” Anfield Energy CEO Corey Dias said. “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 working to advance its Shootaring Canyon mill to production-ready status concurrently with Velvet-Wood. The mill is one of only three licensed and permitted conventional uranium mills in the USA and has been on standby since 1982.
Article researched and written by WNN’s
