Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) welcomes the U.S. government’s efforts to facilitate domestic uranium mining through the issuance of Executive Orders (“EO”).
These efforts not only bring increased investor attention to the sector but will also help boost Anfield’s production prospects as one of very few companies with a near-term path to U.S. uranium production.
The Administration’s relevant Executive Orders are as follows:
Establishing the National Energy Dominance Council (“NEDC”)
The NEDC, Chaired by the Secretary of the Interior and Vice-Chaired by the Secretary of Energy, is tasked to prepare and recommend a strategy to increase domestic energy production. Other agencies represented on the NEDC are the Department of State, Department of Defense, Environmental Protection Agency, U.S. Trade Representative, the Office of Management and Budget and the Department of Transportation.
Immediate Measures to Increase American Mineral Production
This EO aims to boost American mineral production, streamline permitting and enhance national security. It directs Federal agencies to accelerate domestic mining, processing and refining of key minerals – including uranium – by prioritizing strategic projects, reducing regulatory delays, improving access to Federal lands and mobilizing public and private investment. This EO also invokes the Defense Production Act, which is designed to address US reliance on foreign sources for minerals.
Unleashing American Energy
This EO seeks to expand production of energy and critical minerals in the U.S. and includes uranium as a critical mineral. To this end, this EO pushes to accelerate regulatory approvals in furtherance of this goal. Amongst other considerations, the EO requires a review of Agency actions as follows:
- identify and revise any regulations that are decreed to impede energy development, with revisions to be developed in consultation with the White House within 30 days;
- have the US Geological Survey (“USGS”) consider updating the USGS’s list of critical minerals, “…including for the potential of including uranium”.
Zero-Based Regulatory Budgeting to Unleash American Energy
This EO creates a regulatory budgeting framework to streamline Federal energy regulations at Federal departments such as the Nuclear Regulatory Commission (”NRC”), Department of Energy (“DoE”), the Environmental Protection Agency (“EPA”) and the Federal Energy Regulatory Commission (“FERC”). It also mandates sunset clauses for both existing and new regulations (excluding permitting regimes) unless affirmatively extended.
The establishment of the NEDC to create a national energy production strategy – which includes uranium as an energy source – provides Anfield with unique opportunities. The NEDC will introduce mandates to accelerate domestic mineral production through faster regulatory approvals, which will open the door to increased investment – both private and public – and will provide greater access to Federal lands for the purpose of potential mineral production. Anfield is positioned to take advantage of these Executive Orders to advance its uranium assets into production and become a U.S. domestic supplier. In our path to production: We have submitted our Plan of Operations (PoO) for the Velvet-Wood uranium project in Utah, and expect to receive approval by the end of 2025; We have recently completed our Slick Rock data review and expect to release an updated uranium and vanadium resource estimate later in 2025; and We continue to work with the Utah Department of Waste Management and Radiation Control (UDWMRC) to both upgrade our current Radioactive Materials License (RML) for our Shootaring mill to Operational from Standby status and increase our annual uranium production capacity to 3 million pounds per year from its current 1 million pounds per year.
As shown above, the Company is currently aligning the development timelines for its core uranium and vanadium mining projects – Slick Rock and Velvet-Wood – in order to have both ready for production prior to the restart of the Shootaring Canyon mill. As a reminder, the combined 2023 Preliminary Economic Assessment (PEA) for Slick Rock and Velvet-Wood demonstrated a pre-tax NPV8% of US$238M and IRR of 40% assuming U3O8 and V2O5 prices of US$70/lb and US$12/lb, respectively.Corey Dias, CEO, Anfield Energy Inc.
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