Northwire Canada EditionThursday, August 27, 2026
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GOLD 4652.30 −0.0% SILVER 69.06 +0.3% COPPER 6.57 −1.9% OIL 82.49 +0.3% PALLADIUM 1316.50 −1.8% WGF 0.160 +0.0% JUGR 1.41 −2.8% ELEC 0.120 +4.3% SAGA 0.475 −3.5% CGNT 1.30 +3.2% ABRA 16.06 −0.6% KLD 2.43 −4.7% FMAN 0.380 −1.3% WM 0.105 +5.0% OBUL 0.485 +0.0% MD 0.380 −2.6% PGE 0.400 +3.9% CRE 0.375 +0.0% MSG 0.250 +0.0% SXL 0.060 +0.0% ROAR 0.225 −2.2% GOLD 4652.30 −0.0% SILVER 69.06 +0.3% COPPER 6.57 −1.9% OIL 82.49 +0.3% PALLADIUM 1316.50 −1.8% WGF 0.160 +0.0% JUGR 1.41 −2.8% ELEC 0.120 +4.3% SAGA 0.475 −3.5% CGNT 1.30 +3.2% ABRA 16.06 −0.6% KLD 2.43 −4.7% FMAN 0.380 −1.3% WM 0.105 +5.0% OBUL 0.485 +0.0% MD 0.380 −2.6% PGE 0.400 +3.9% CRE 0.375 +0.0% MSG 0.250 +0.0% SXL 0.060 +0.0% ROAR 0.225 −2.2%
Production / Operations

Anfield Energy Completes First Underground Blast in Nearly 40 Years at Velvet-Wood Mine

AEC · Price

Anfield Energy Inc. (AEC) has completed the first underground blast at its Velvet-Wood uranium and vanadium project in Utah since the mid-1980s, marking a significant milestone in the company’s underground rehabilitation and development program. The blast was conducted following the receipt of a permit from the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) in June 2026, ending a hiatus of nearly 40 years for underground operations at the site, which last produced in 1984.

The company has successfully rehabilitated the first 700 feet of the decline, completing essential work that includes ground support via rock bolts and wire mesh, road building, mucking to remove waste rock, and surveying. Infrastructure installations are also underway, featuring a primary surface ventilation fan and ducting, an air compressor, air and water lines, electrical power, and communication systems.

Construction of the water treatment plant and the installation of the dewatering pump are now nearly complete. Testing and sampling of the plant are expected within the coming weeks. Following construction, a 60-day testing and reporting period will be implemented to confirm the system's effectiveness before the dewatering of historic workings begins. Anfield estimates that the remaining portion of the decline is expected to dewater within three weeks of active dewatering, with approximately two to three months required to dewater the existing underground workings.

This progress supports Anfield’s hub-and-spoke uranium and vanadium strategy, which is centered on the fully permitted Shootaring Canyon Mill in Utah. The project’s development aligns with the Trump Administration’s focus on strengthening the domestic nuclear fuel supply chain and critical minerals production. Recent site visits were attended by representatives from San Juan County, the Utah State Senate, the Governor’s Office of Economic Development, the Utah Division of Oil, Gas and Mining, and the Utah Office of Energy Development, underscoring state support for the initiative.

Corey Dias, CEO, stated: “Completing the first underground blast at Velvet-Wood since the mid-1980s, following the receipt of our ATF blast permit in June, is a concrete step in rehabilitating the decline and moving the project toward dewatering of the historic workings. The water treatment plant and dewatering pump are nearly complete, which gives us a defined path to the next phase of underground development. Continued engagement from Utah state and local officials underscores support for responsible development of domestic uranium and vanadium resources. We remain focused on advancing Velvet-Wood as a key component of our hub-and-spoke strategy centered on the Shootaring Canyon Mill.”

Read the original news release →

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