Project UpdateJun 30, 2026, 09:47 AM
Utah Legislators Tour Anfield's Velvet-Wood Project
AI Summary
Anfield Energy Inc. announced that the Utah Division of Oil, Gas and Mining (DOGM) will host a delegation of approximately 20 Utah legislators for an informational tour of the Company’s Velvet-Wood uranium-vanadium project on August 12, 2026. The tour will showcase the project's rapid advancement, construction milestones, and the impact of supportive state and federal policies, including expedited permitting in 2025. Anfield has completed Phase One surface construction in 2026 and is on track for first production by the end of 2026, contributing to U.S. critical minerals independence.
Key Highlights
- Utah legislators to tour Anfield Energy's Velvet-Wood uranium-vanadium project on August 12, 2026.
- The project received expedited federal permitting in May 2025 under an energy emergency declaration.
- Utah DOGM granted formal approval for construction on October 7, 2025, leading to groundbreaking in November 2025.
- Phase One surface construction was completed in 2026, with Phase Two underground development underway.
- First production from Velvet-Wood is targeted by the end of 2026.
- Velvet-Wood has historical output of approximately 4 million pounds of U₃O₈ and 5 million pounds of V₂O₅.
- The U.S. consumes nearly 50 million pounds of uranium annually, with minimal domestic production.
Price Impact
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