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Trump Admin Fast Tracks Anfield’s Velvet-Wood Uranium Project in Push for US Energy Independence

Giann Liguid, Investing News 15th May 2025

Anfield Energy’s Velvet-Wood uranium-vanadium project in Utah is the first US uranium asset to receive a fast-track designation.

The US Department of the Interior announced on Monday (May 12) that it will fast track environmental permitting for Anfield Energy’s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah

The decision slashes what would typically be a years-long review process down to just 14 days, and makes Velvet-Wood the first uranium project to be expedited under a January 20 statement from President Donald Trump. In it, he declares a national energy emergency and emphasizes the importance of restoring American energy independence.

This week’s decision signals what Anfield calls “a decisive shift in federal support for domestic nuclear fuel supply.”

The Velvet-Wood project, located in San Juan County, Utah, is expected to produce uranium used for both civilian nuclear energy and defense applications, as well as vanadium, a strategic metal used in batteries and high-strength alloys.

Secretary of the Interior Doug Burgum characterized the move as part of an urgent federal response to what he said is “an alarming energy emergency” created by the “climate extremist policies” of the previous administration.

“President Trump and his administration are responding with speed and strength to solve this crisis,” he said. “The expedited mining project review represents exactly the kind of decisive action we need to secure our energy future.”

Anfield acquired Velvet-Wood, which is currently on care and maintenance, from Uranium One in 2015…………………….

The Trump administration’s decision to pause the implementation of its new reciprocal tariffs for 90 days provided utilities with the breathing room needed to resume contracting……………

These moves align with a broader US Department of Energy strategy that includes identifying 16 federal sites for co-locating data centers and new energy infrastructure. https://investingnews.com/trump-fast-tracks-velvet-wood/

May 21, 2025 - Posted by Christina Macpherson | Uranium, USA