Anfield Energy Advances Velvet-Wood Uranium Project with Phase One Completion — Anfield Energy Inc.

Event summary

Anfield Energy completed Phase One surface construction at its Velvet-Wood uranium and vanadium project in Utah.
Phase Two, focusing on dewatering and underground rehabilitation, is expected to commence within 30 days and last approximately 6 months.
Velvet-Wood is the first uranium mine advanced through expedited permitting under the current U.S. administration.
The project aims to resume production by the end of 2026, marking a 40-year hiatus since the mine last produced in 1984.

The big picture

Anfield Energy's progress at Velvet-Wood aligns with broader U.S. efforts to expand nuclear capacity and energy independence. The project's expedited permitting and strategic focus on the Shootaring Canyon Mill highlight its role in revitalizing domestic uranium production. The successful completion of Phase One positions Anfield as a key player in the U.S. uranium sector, with potential implications for both supply and market dynamics.

What we're watching

Execution Risk: Whether Anfield can sustain the pace of development through Phase Two and Three without delays.
Regulatory Dynamics: How the expedited permitting process for Velvet-Wood influences future uranium projects in the U.S.
Market Impact: The pace at which increased U.S. uranium production affects global supply dynamics and pricing.