{"id":17810,"date":"2025-05-16T05:54:20","date_gmt":"2025-05-16T05:54:20","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/16\/trump-admin-fast-tracks-anfields-velvet-wood-uranium-project-in-push-for-us-energy-independence\/"},"modified":"2025-05-16T05:54:20","modified_gmt":"2025-05-16T05:54:20","slug":"trump-admin-fast-tracks-anfields-velvet-wood-uranium-project-in-push-for-us-energy-independence","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/05\/16\/trump-admin-fast-tracks-anfields-velvet-wood-uranium-project-in-push-for-us-energy-independence\/","title":{"rendered":"Trump Admin Fast Tracks Anfield\u2019s Velvet-Wood Uranium Project in Push for US Energy Independence"},"content":{"rendered":"<\/p>\n
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The US Department of the Interior announced on Monday (May 12) that it will fast track environmental permitting for Anfield Energy\u2019s (TSXV:AEC,OTCQB:ANLDF) Velvet-Wood uranium project in Utah<\/strong><\/p>\n

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. <\/p>\n

This week\u2019s decision signals what Anfield calls \u201ca decisive shift in federal support for domestic nuclear fuel supply.\u201d<\/p>\n<\/div>\n

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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.<\/p>\n

Secretary of the Interior Doug Burgum characterized the move as part of an urgent federal response to what he said is \u201can alarming energy emergency\u201d created by the \u201cclimate extremist policies\u201d of the previous administration. <\/p>\n

\u201cPresident Trump and his administration are responding with speed and strength to solve this crisis,\u201d he said. \u201cThe expedited mining project review represents exactly the kind of decisive action we need to secure our energy future.\u201d<\/p>\n

Anfield acquired Velvet-Wood, which is currently on care and maintenance, from Uranium One in 2015. <\/p>\n

The asset sits on the site of a previously active operation. Between 1979 and 1984, Atlas Minerals extracted approximately 400,000 metric tons of ore from the Velvet deposit, recovering around 4,000,000 pounds of U3O8. If approved, the revived project would disturb only three acres of new surface area, according to the interior department.<\/p>\n

\u2018As a past-producing uranium and vanadium mine with a small environmental footprint, Velvet-Wood is well- suited for this accelerated review,\u2019 said Anfield CEO Corey Dias.<\/p>\n

<\/span>He added that the company aims \u2018to play a meaningful role in rebuilding America\u2019s domestic uranium and vanadium supply chain and reducing reliance on imports from Russia and China.\u201d<\/p>\n

The company also owns the Shootaring Canyon uranium mill in Utah, which it plans to restart. The facility, described as one of only three licensed, permitted and constructed conventional uranium mills in the country, would convert uranium ore into uranium concentrate bound for nuclear fuel production.<\/p>\n

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Uranium market sentiment turning a corner? <\/h3>\n

After a rocky start to 2025, the uranium market is showing signs of renewed strength and resilience.<\/p>\n

According to Sprott Asset Management\u2019s latest uranium report, the U3O8 spot price rose by 5.4 percent in April, climbing to US$67.70 per pound from a March low of US$63.20. The price recovery continued into early May, with the spot price briefly touching US$70, a nearly 10 percent gain from 2025 lows.<\/p>\n

This rebound has renewed investor confidence and appears to signal the beginning of a steadier climb, underpinned by tight supply conditions, resurgent utility activity and greater clarity around US trade and tariff policy.<\/p>\n

The uranium term price, which remains steady at US$80, continues to reflect strong long-term fundamentals. This persistent premium over spot pricing has re-energized the uranium carry trade \u2014 where traders purchase spot uranium for future delivery under term contracts \u2014 helping to support spot prices and inject fresh liquidity into the market.<\/p>\n

A major contributor to the uranium market\u2019s renewed confidence has been improved policy visibility in the US. <\/p>\n

The Trump administration\u2019s decision to pause the implementation of its new reciprocal tariffs for 90 days provided utilities with the breathing room needed to resume contracting. <\/p>\n

Although uranium was excluded from the initial tariff package, it remains part of an ongoing Section 232 investigation into critical minerals, a move that Sprott believes elevates uranium\u2019s strategic profile.<\/p>\n

As for the long-term outlook, uranium\u2019s bullish case is also being bolstered by growing power demands from artificial intelligence and data centers. In April, Google (NASDAQ:GOOGL)<\/a> announced funding for three new nuclear projects, each with at least 600 megawatts of planned capacity.<\/p>\n

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.<\/p>\n<\/div>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/div>\n

Keep reading\u2026<\/span>Show less<\/span><\/div>\n<\/p>\n
This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The US Department of the Interior announced on Monday (May 12) that it will fast track environmental permitting for Anfield Energy\u2019s (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 […]<\/p>\n","protected":false},"author":0,"featured_media":17811,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-17810","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=17810"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/17810\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/17811"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=17810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=17810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=17810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}