Construction set to start at Velvet-Wood project

The project is the first to be approved under a new accelerated review process launched as part of a strategic response to the national energy emergency declared by President Donald Trump in January. The US Department of the Interior (DOI) announced on 14 May that it had selected Velvet-Wood for expedited review. Less than two weeks later, the DOI approved the environmental permit for the project.

Having now received approval from the Utah Department of Oil, Gas and Mining, Anfield said it has received approval from both the Federal and State authorities. It said: "Immediate mobilisation is commencing, with groundbreaking to follow within 30 days."

Vancouver, Canada-based Anfield said that near-term plans for the Velvet-Wood project include: the reopening of the mine portal; mine dewatering; construction of surface facilities; underground inspection and pre-construction assessment; and construction of a new incline into the mine.

"We are very pleased to receive approval from the Utah Department of Oil, Gas and Mining for our Velvet-Wood project," said Anfield CEO Corey Dias. "Having achieved this critical milestone, Anfield's path is now clear to advance the Velvet-Wood mine to construction and, ultimately, to production. This reinforces our view that Velvet-Wood's status as a past-producing uranium and vanadium mine with a small environmental footprint is advantageous to the company's aim to pursue near-term production. The company will now pivot to advancing the project through the construction phase of its plan."

Anfield acquired the Velvet-Wood project, along with other conventional uranium mining assets, from Uranium One in 2015. The two areas making up the project had been historically held by separate companies: previous owner Atlas Minerals recovered some 4 million pounds U3O8 (1539 tU) - as well as 5 million pounds of V2O5 - from the Velvet deposit between 1979 and 1984. The Wood area was drilled by then-owner Uranerz between 1985 and 1991, but was not mined. The combined Velvet and Wood historical mines are currently estimated to contain 4.6 million pounds U3O8 of measured and indicated resources and inferred resources of 552,000 pounds U3O8.

Anfield is also working to advance its Shootaring Canyon mill to production-ready status concurrently with Velvet-Wood. The mill is one of only three licensed and permitted conventional uranium mills in the USA and has been on standby since 1982.