07:42 AM EDT, 10/07/2025 (MT Newswires) -- Anfield Energy ( AEC ) announced Tuesday that it has received the required approval from the Utah Department of Oil, Gas and Mining (DOGM) to commence the advancement of its Velvet-Wood uranium project in Utah to construction.

It noted the U.S. Department of the Interior had previously approved the environmental permit for Velvet-Wood as it was previously selected as part of the federal government's national response to the energy emergency declared by President Donald Trump.

Among highlights cited in a statement, Velvet-Wood has now received approval from both the Federal and State authorities, which will allow for the acceleration of mine preparation and, ultimately, commencement of construction and production. Immediate mobilization is commencing, with groundbreaking to follow within 30 days.

Near-term plans for Velvet-Wood 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.

"This is a critical advancement of a key piece of Anfield's integrated mine-to-mill strategy, underpinned by its Shootaring Canyon uranium mill, and reinforces the company's position as a near-term contributor to U.S. energy security," the statement said.

Shares in Anfield Energy ( AEC ) lost 8.6% in Canada and 10.8% in the US yesterday.