financetom
Business
financetom
/
Business
/
US will fast-track Utah uranium mine permit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US will fast-track Utah uranium mine permit
May 26, 2025 6:14 AM

(Reuters) -The U.S. Interior Department said on Monday it will fast-track environmental permitting for Anfield Energy's ( ANLDF ) proposed Velvet-Wood uranium mine project in Utah to boost President Donald Trump's efforts to ramp up domestic energy production.

As a result, the project's environmental review will be completed in just 14 days, the department said in a statement. Such studies typically take years because of the potential environmental effects of uranium mining.

"America is facing an alarming energy emergency because of the prior administration's climate extremist policies. President Trump and his administration are responding with speed and strength to solve this crisis," said Secretary of the Interior Doug Burgum.

"The expedited mining project review represents exactly the kind of decisive action we need to secure our energy future," he said.

If approved, the Velvet-Wood mine project in San Juan County would produce uranium, used in both nuclear energy and nuclear weapons production, as well as vanadium, a metal than can be used in batteries or to strengthen steel and other alloys.

The Interior Department said the project would be located at the site of a previous mining operation and lead to only three acres of new surface disturbance.

Anfield also owns the Shootaring Canyon uranium mill in Utah, which it intends to restart. That mill would convert uranium ore into uranium concentrate that could be used as a nuclear fuel.

The company did not immediately respond to a request for comment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Berkshire Hathaway sells $39.8 mln of shares in China's BYD
Berkshire Hathaway sells $39.8 mln of shares in China's BYD
Jun 17, 2024
BEIJING, June 17 (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.3 million Hong Kong-listed shares of electric vehicle maker BYD for HK$310.5 million ($39.8 million), a stock exchange filing showed on Monday. The sale on June 11 lowered Berkshire's holdings in BYD's issued H-shares to 6.90% from 7.02%, the filing to the Hong Kong...
Market Chatter: Carlyle Group Pursues Sale of Cogentrix Energy
Market Chatter: Carlyle Group Pursues Sale of Cogentrix Energy
Jun 17, 2024
05:10 AM EDT, 06/17/2024 (MT Newswires) -- Carlyle Group ( CG ) is considering a sale of electric power company Cogentrix Energy, the Financial Times reported, citing unnamed people familiar with the matter. The private-equity firm is seeking to sell the company, which has stakes in 13 US natural gas power plants, at a valuation of as much as $3...
Market Chatter: Meta Platforms Facing Potential Charges for Alleged Violation of EU's Digital Markets Act
Market Chatter: Meta Platforms Facing Potential Charges for Alleged Violation of EU's Digital Markets Act
Jun 17, 2024
05:16 AM EDT, 06/17/2024 (MT Newswires) -- Meta Platforms ( META ) is facing a potential fine over its alleged violation of the European Union's Digital Markets Act or DMA, Reuters reported Friday, citing unnamed sources familiar with the matter. According to the report, sources said Meta's violation relates to its recent introduction of a subscription fee for an ad-free...
Analysis-Brazil joins race to loosen China's grip on rare earths industry
Analysis-Brazil joins race to loosen China's grip on rare earths industry
Jun 17, 2024
MELBOURNE/RIO DE JANEIRO (Reuters) - Mining giant Brazil has big ambitions to build a rare earths industry as Western economies push to secure the metals needed for magnets used in green energy and defence and break China's dominance of the supply chain. Working to its advantage are low labour costs, clean energy, established regulations and proximity to end markets, including...
Copyright 2023-2026 - www.financetom.com All Rights Reserved