The U.S. depends heavily on imported uranium to power its nuclear reactors, using about 50 million pounds each year while producing less than 1% at home. Boosting domestic uranium production is crucial for energy security and reducing reliance on foreign sources. In this context, Anfield Energy Inc. (NASDAQ: AEC; TSXV: AEC) is making progress with its Velvet-Wood uranium project in San Juan County, Utah.
The Utah Department of Oil, Gas, and Mining recently approved the project for construction. This allows Anfield to move quickly toward production.
Velvet-Wood Gains Green Light for Rapid Development
In May, Anfield Energy Inc. announced that the U.S. Department of the Interior approved its Velvet-Wood uranium project in San Juan County, Utah.
This project was the first mining initiative approved under a new fast-track permitting process by the U.S. Department of the Interior. This process, introduced after President Trump’s energy emergency declaration in January 2025, lets energy projects complete environmental reviews in just 14 days.
By selecting Velvet-Wood, federal agencies highlighted its importance for the domestic uranium and vanadium supply.
Notably, Secretary of the Interior Doug Burgum said the Bureau of Land Management ensures safe and responsible extraction while protecting the environment.
With federal and state approvals in hand, Anfield plans to start mobilization immediately. The company expects to break ground within 30 days. They will:
- reopen the mine portal
- dewater the site
- build surface facilities
- develop a new mine incline.
These steps aim to bring Velvet-Wood into production quickly while keeping safety and environmental standards high.
Anfield Boots U.S. Energy Security with Domestic Production
Anfield acquired Velvet-Wood in 2015. The mine previously produced around 4 million pounds of uranium and 5 million pounds of vanadium from 1979 to 1984.
- A preliminary economic assessment shows 4.6 million pounds of uranium at a grade of 0.29% eU3O8, plus additional inferred resources.
CEO Corey Dias said the approvals clear the way for building the mine and starting production. The company also plans to increase its reclamation bond with the Bureau of Land Management to meet federal land restoration rules.
Anfield’s project helps the U.S. reduce dependence on foreign minerals. The country imports uranium from Russia, Kazakhstan, and Uzbekistan. Vanadium supply mainly comes from China, Russia, South Africa, and Brazil.
By producing uranium and vanadium domestically, Anfield enhances energy security and supports industries such as nuclear power, aerospace, and defense.
Uranium and Vanadium: Key Strategic Materials
Uranium powers nuclear reactors, fuels U.S. Navy submarines, and helps produce medical isotopes. It is also used in tritium production for national defense. Vanadium strengthens steel and titanium alloys used in both commercial and military aircraft. Together, these minerals are vital for energy, defense, and industrial security.
EIA’s Domestic Uranium Production Report Second-Quarter 2025 highlights that in Q2 2025, the U.S. produced 437,238 pounds of uranium concentrate (U3O8), up 41% from the first quarter’s 310,533 pounds.
Production came from the following mines:
Underground Mining Keeps Environmental Impact Low
Velvet-Wood will focus on underground mining. The company will use existing mine workings and develop new mineral areas. This approach keeps surface disturbance to just three acres and makes use of the old Velvet mine site.
Anfield also owns the Shootaring Canyon mill, one of only three licensed uranium mills in the U.S. Restarting this mill will allow the company to convert uranium ore into concentrate, reduce reliance on imports, and support domestic nuclear fuel production.
Economic and Strategic Benefits
Anfield combines strong assets with efficient operations. Its hub-and-spoke model links mining sites with processing mills, maximizing the value of Velvet-Wood’s resources. With measured resources, a licensed mill, and fast government approvals, the company is ready to meet growing demand for uranium and vanadium.
The project also brings jobs to Utah and supports local communities. Restarting the Shootaring Canyon mill adds processing capacity, lowers costs, and improves efficiency.
Moving Toward a Sustainable Energy Future
Anfield focuses on sustainable growth. Its operations balance environmental responsibility with energy and defense needs. By producing domestic uranium and vanadium, the company supports a carbon-free energy future while reducing reliance on imports.
Velvet-Wood shows how companies and supportive policies can address energy and security challenges. By using old mining assets and modern techniques, Anfield aims to become a leading U.S. uranium producer. It’s fast move from permitting to production sets an example for other critical mineral projects.
