Anfield Energy Announces November 6th Ground-Breaking Ceremony for Velvet-Wood Uranium-Vanadium Mine, Advancing U.S. Energy Independence

Core Insights - Anfield Energy Inc. is set to hold a ceremonial groundbreaking on November 6, 2025, at its Velvet-Wood uranium-vanadium mine in Utah, marking the official start of construction following expedited federal and state approvals [2][3] - The event will highlight Anfield's commitment to supporting the U.S. nuclear fuel supply and its role in the resurgence of critical minerals [3][4] Company Developments - The groundbreaking ceremony will feature Anfield executives, local community leaders, and representatives from federal and state agencies, emphasizing the importance of the Velvet-Wood project in the context of U.S. energy security [3][4] - Anfield's Velvet-Wood mine has historical production of 4 million pounds of U3O8 and 5 million pounds of V2O5 from 1979 to 1984, with current resources estimated at 4.6 million pounds eU3O8 at 0.29% grade and 552,000 pounds eU3O8 at 0.32% grade [4][7] Economic Potential - The Preliminary Economic Assessment (PEA) for the Velvet-Wood project forecasts a pre-tax NPV8% of US$238 million and an IRR of 40% at US$70 per pound U3O8 and US$12 per pound V2O5, indicating strong economic potential amid rising commodity prices [4][7] - Anfield aims to increase its mill license upgrades to achieve an annual capacity of 3 million pounds, aligning with the growing demand from utilities and advanced reactors [4][7] Strategic Alignment - The project aligns with the Trump Administration's Executive Orders aimed at revitalizing the nuclear fuel cycle and reducing reliance on uranium imports, which stood at 99% in 2023 [4][7] - Anfield's fully U.S.-based assets, including Slick Rock, Frank M, and the Paradox Mine Complex, support a hub-and-spoke model to enhance domestic mineral security [4][7]