Anfield Energy has announced it will hold a groundbreaking ceremony on November 6 for its Velvet-Wood uranium and vanadium mine in San Juan County, Utah. According to Anfield Energy, this is one of the first major projects to move forward following recent streamlined federal and state approvals, with the Department of the Interior completing a notably rapid 14-day environmental review, followed by Utah’s final permit approval. The Velvet-Wood mine is expected to support US nuclear energy ambitions by providing domestically sourced uranium, while its vanadium resources will help reinforce infrastructure and the aerospace sector. This project aligns with the renewed push from the Trump administration, including recent executive orders prioritizing nuclear independence, reducing reliance on uranium imports—which last year accounted for 99 percent of US consumption—and addressing vanadium supply chain vulnerabilities. Anfield plans for first production as soon as 2026 and forecasts strong economic returns if uranium and vanadium prices hold, citing a recent economic assessment valuing the project with an internal rate of return of 40 percent, assuming appropriate commodity prices. The initiative is also projected to create jobs in San Juan County and limit new surface disturbance to just three acres, minimizing the environmental footprint.
Nationally, American energy and mineral policy has been shaped this week by a critical development in trade relations with China. The United States and China reached a temporary one-year agreement to ease China’s restrictions on exporting rare earth minerals, according to both InvestorNews and a White House fact sheet. This reprieve provides short-term relief for US manufacturers who rely heavily on rare earths for technologies, defense, and green energy applications, yet analysts at the Critical Minerals Institute caution this is only a temporary fix. China’s new five-year plan makes clear its intent to prioritize domestic use and value addition, signaling an ongoing intent to limit dependency of Western industries on Chinese exports. In response, the United States is accelerating efforts to build alternative and domestic supply chains for critical minerals such as rare earths, lithium, and tungsten. American Tungsten Corporation announced the latest round of funding for its Idaho project, which aims to strengthen North American supply of this essential metal.
Another significant development includes the United States’ $80 billion deal for new nuclear power plants, part of its broader strategy to increase clean energy capacity and reduce dependency on foreign fuels. On the international front, the US also signed a new framework with Japan to boost cooperation in energy, critical minerals, and technology, aiming to further diversify and secure supply.
Globally, copper prices soared to new records last week as demand for electrification and battery storage continues to increase, according to InvestorNews. This surge underlines the intense competition worldwide for future-facing metals. Meanwhile, Canada is dedicating a portion of its defense spending to developing critical minerals infrastructure, and companies are moving to link mining outputs directly with processing plants in allied nations, with new agreements between US and Australian firms targeting rare earth supply chains. The pattern emerging both in the US and worldwide is an urgent pivot toward securing mineral resources vital for energy, technology, and economic security.
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