Wednesday, 14 May 2025
_32313.jpg)
The accelerated review is part of a strategic response to the national energy emergency declared by President Donald Trump in January, the department said, and is expected to “significantly contribute to meeting urgent energy demands” as well as addressing national energy security concerns. Velvet-Wood is the first uranium project to be prioritised under the emergency procedures.
“The expedited mining project review represents exactly the kind of decisive action we need to secure our energy future,” said Secretary of the Interior Doug Burgum. “By cutting needless delays, we’re supporting good-paying American jobs while strengthening our national security and putting the country on a path to true energy independence.”
Anfield acquired the Velvet-Wood uranium and vanadium mine from Uranium One in 2015. Some 4 million pounds U3O8 (1539 tU) – as well as 5 million pounds of V2O5 – were recovered from the Velvet deposit between 1979 and 1984 by previous owner Atlas Minerals. 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.
Anfield submitted a Plan of Operation for the mine to the State of Utah and the Bureau of Land Management in May 2024. It is advancing Velvet-Wood towards production-ready status concurrently with the Shootaring Canyon mill. The Plan of Operation includes specific operating actions and controls, reclamation actions, an estimate of reclamation surety based on third-party costs and technical bases for how the actions meet state and federal regulatory requirements.
Anfield CEO Corey Dias said the company was pleased that Velvet-Wood had been selected for expedited permitting. “As a past-producing uranium and vanadium mine with a small environmental footprint, Velvet-Wood is well-suited for this accelerated review,” he said. “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, the OTCQB Marketplace and the Frankfurt Stock Exchange, and is also currently pursuing a NASDAQ listing.
