Anfield Energy Inc. Receives ATF Blasting Permits for Utah and Colorado Mines
Anfield advances blasting permits for the Velvet-Wood project, targeting production commencement in 2026.
Anfield Energy Inc. received ATF blasting permits for its Velvet-Wood mine in Utah and JD-8 mine in Colorado on July 7, 2026. The permits enable immediate drilling and blasting campaigns at Velvet-Wood to access new mineralized zones, transitioning the project from surface rehabilitation to active underground mining. JD-8 is positioned to commence mining immediately upon completion of remaining permitting later in 2026.
Management reaffirms the target to return Velvet-Wood to production by the end of 2026. Operations will feed into the Shootaring Canyon Mill under the company's hub-and-spoke strategy. CEO Corey Dias highlighted the permits as a major milestone unlocking underground development in a premier U.S. uranium district.
Anfield Energy Inc. (AEC) released blasting permits on July 7, 2026, marking a logical execution step following the company’s June 2026 Preliminary Economic Assessment (PEA) and Phase 1 construction completion announcements. The company’s historical progression outlines a clear path from May 2025 federal expedited permitting through October 2025 state construction approval, November 2025 groundbreaking, and a January 2026 capital raise of $10 million USD. This sequence culminated in the June 2026 PEA, which reported a $606 million net present value (NPV) and 106% internal rate of return (IRR), followed by the July 2026 blasting permits.
The news confirms management's stated timeline but introduces no new financial metrics, revised economics, or unexpected catalysts. The market has already priced in the end-2026 production target via the June PEA. While the permit de-risks near-term execution, it does not materially alter the investment thesis or valuation.
Anfield Energy Inc. (AEC) is a U.S.-focused uranium and vanadium developer that employs a hub-and-spoke production model. Its flagship assets include the Velvet-Wood mine in Utah, the JD-8 mine in Colorado, and the Shootaring Canyon Mill in Utah, which is one of only three licensed conventional uranium mills in the United States. The company’s strategy leverages brownfield assets with historical production, including approximately 4 million pounds of U3O8 and 5 million pounds of V2O5 at Velvet-Wood, to minimize greenfield exploration risk. Management targets opening two mines per year across the Lisbon Valley in Utah and the Uravan Mineral Belt in Colorado.