U.S. Interior Department Fast-Tracks Environmental Review for Anfield Energy’s Velvet-Wood Uranium Mine
The U.S. Department of the Interior announced on Monday that it will expedite the environmental permitting process for Anfield Energy’s proposed Velvet-Wood uranium mine in Utah. This decision aligns with the federal government’s broader strategy to strengthen domestic energy production, particularly in the nuclear sector.
Located in San Juan County, Utah, the Velvet-Wood project will undergo an environmental review within just 14 days—a sharp contrast to the months or years such assessments typically require. Interior Secretary Doug Burgum described the move as part of a response to what he termed an “alarming energy emergency” driven by past energy policies. He emphasized that fast-tracking projects like this is essential to ensuring the nation’s energy independence.
The Velvet-Wood mine is situated on a site that was previously mined, with plans indicating that only about three acres of new surface area will be disturbed. The project is focused on the extraction of uranium—used in nuclear energy and defense—as well as vanadium, which is utilized in steel production and battery technology.
Anfield Energy intends to process the mined material at its nearby Shootaring Canyon Mill, which it is in the process of restarting. The mill will be responsible for converting raw uranium ore into uranium concentrate, a form suitable for use in nuclear fuel.
The Velvet-Wood project, acquired by Anfield in 2015, includes historical mineral resources. Between 1979 and 1984, around 400,000 tons of ore were mined from the Velvet deposit, yielding roughly 4 million pounds of U₃O₈ (triuranium octoxide) and 5 million pounds of V₂O₅ (vanadium pentoxide). The site retains key infrastructure, including a 3,500-foot underground decline that accesses the ore body.
In 2023, Anfield completed a Preliminary Economic Assessment for the Velvet-Wood and Slick Rock projects. The assessment reported a pre-tax internal rate of return of 40% and a net present value of $238 million. Over an expected 15-year mine life, the projects are estimated to yield approximately 750,000 pounds of uranium and 2.5 million pounds of vanadium per year.
This fast-tracked review signals a significant federal endorsement of domestic uranium development. If approved and constructed, the Velvet-Wood mine will mark a major step forward in reestablishing U.S. uranium production and strengthening national energy security.