In June representatives from Montrose County reported on a permitted uranium project in Utah’s Lisbon Valley. Then, county representatives said the project was “beginning to bring economic activity into Colorado’s West End. While operations are located just across the state line, the impact is already reaching Montrose County.”
Officials said then the hiring would be limited but create as many as 60 jobs in the local area.
“Anfield Energy, the project developer, is also exploring additional opportunities within Montrose County,” the county news release added.
In 2019 Anfield Energy closed on its deal with the Cotter Corporation, acquiring both the Charlie ISR Uranium Project and nine past-producing uranium/vanadium properties in Colorado, collectively known as the West Slope Project — a transaction that made world news. Those Western Slope properties exist in west San Miguel and west Montrose counties.
The Forum weekly reports the market price of uranium. On Aug. 25 it was sitting at $73.95. Geologist Tony Adkins, of Nucla, told the Forum over the weekend global actions affect the market price. He doesn’t believe the price is differentiated for the U.S. market versus the global one. He added there’s a fair amount of uranium in the world, and it’s not a rare commodity.
Many know that Thor Energy, of Australia, had been doing exploration work in the West End in the last few years. Now, though, Thor has left the area, Adkins confirmed. They won’t be doing further exploration and have shifted their operations into helium and hydrogen back in Australia.
Adkins added much of his current work is about reclamation. He’s working with the BLM and Colorado Division of Reclamation, Mining and Safety, assisting companies in getting their bonds back. He’s helping with surface disturbances and required vegetative growth.
Last week, Paul Koski shared online a story from World Nuclear News, a nonprofit organization that disseminates information about nuclear power. Koski shared the Aug. 18, World Nuclear News story titled “Western Uranium focuses on Colorado mill.”
The story states “Western Uranium & Vanadium Corp confirmed it has begun delivering ore from its Sunday Mine Complex in Colorado for processing at Energy Fuels' White Mesa mill, but sees the development of its own Mustang processing facility as critical to its plans for in-house yellowcake production. … The company intends to bring yellowcake production in-house, and is prioritizing the development of the former Pinon Ridge Mill site in Colorado, which it purchased in 2024.”
The Forum reached out to George Glasier, of Nucla and who is the CEO of Western Uranium & Vanadium, to discuss the company’s plans for the Paradox Valley site. The Forum had not heard back as of press time.
Adkins said the future of the uranium energy could depend on the market price. Uranium nearly doubled in 2023, reaching approximately $90. It later fell, but has been more than $70 for the last several months.
He added though the area is rich in such minerals, permitting might not be easily accomplished for mining in the future. San Miguel County’s regulations, which have been discussed in many public meetings this year, are becoming more complex. Those regulations could turn into a very lengthy process for those seeking permit approval. Montrose is not as stringent, Adkins said.
The Forum has reached out to Anfield Energy too with questions about the market, but had not heard back as of press time.
