Anfield Energy Targets $50 Million Financing to Reopen Utah's Shootaring Canyon Uranium Mill
Key Takeaways
- •Anfield Energy plans to raise at least $50 million (C$69.3 million) in financing over the coming months.
- •The funds will pay for refurbishing and reopening the Shootaring Canyon uranium mill near Ticaboo in Garfield County, Utah.
- •The mill is one of only three U.S. uranium mills that are licensed, permitted, and already constructed, and has been on standby since 2008.
- •A restart would add to limited U.S. uranium processing capacity as the country seeks to cut reliance on imported uranium.
- •Government support, including the 2024 ban on enriched Russian uranium imports and DOE procurement efforts, has benefited North American uranium producers and processors.
Anfield Energy (TSXV: AEC; Nasdaq: AEC) plans to raise at least $50 million (C$69.3 million) in financing over the coming months to fund the refurbishment and reopening of the Shootaring Canyon uranium mill in Utah.
The Shootaring Canyon facility is one of only three uranium mills in the United States that are licensed, permitted and already constructed. Its restart would add to the country's limited uranium processing capacity — a constraint that has drawn renewed attention as the U.S. works to reduce reliance on imported uranium and rebuild domestic nuclear fuel supply chains, an effort supported by recent federal initiatives such as the 2024 ban on enriched Russian uranium imports.
The mill, located near Ticaboo in Garfield County in southern Utah, was placed on standby in 2008. Its potential return comes as uranium producers and processors in North America have benefited from government programs aimed at strengthening domestic supply, including the U.S. Department of Energy's uranium enrichment and fuel procurement efforts.
Source: The Northern Miner
