Democratic lawmakers have initiated an inquiry into Energy Fuels following stock purchases by company executives that preceded a significant reduction in the Bears Ears National Monument in southeastern Utah. On July 7, 2026, CEO Ross Bhappu acquired 74,000 shares of the company, representing the largest insider purchase in its history and increasing his ownership stake to 41 percent. Board chair Bruce Hansen purchased an additional 4,000 shares the following day. Less than a week later, President Trump removed 1.24 million acres from the monument, reopening the land for potential mining operations.
The White Mesa Mill, operated by Energy Fuels and located approximately one mile from the monument’s former boundary, is the nation’s only conventional uranium processing facility. The timing of the executive stock purchases relative to the monument’s reduction has drawn scrutiny from congressional Democrats, including Jared Huffman of California and Maxine Dexter of Oregon. The lawmakers have requested communications between Energy Fuels leadership and federal officials, as well as documentation of the company’s lobbying activities. They questioned whether monument boundaries were redrawn to benefit the company’s operations.
Energy Fuels rejected allegations of impropriety, stating the company holds no properties or mining claims within the monument and has not actively advocated for boundary changes with the current administration. The company noted that the White Mesa Mill operates as one of the most heavily regulated mineral processing facilities in the United States. Meanwhile, the Trump administration has prioritized domestic mining of critical minerals as a national security matter, providing Energy Fuels a $725 million Department of Defense loan in June to support rare earth element development.
Tribal nations and environmental advocates have raised concerns about the mill’s operations, citing allegations of undisclosed radioactive material transport through tribal lands and potential risks to water quality in the water-scarce region. The Bears Ears Commission, representing five tribal nations, characterized the monument reduction as a setback to collaborative land management and a threat to sacred cultural sites. Energy Fuels has announced plans to expand the mill to produce heavy rare earth materials for data centers and advanced manufacturing sectors.
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