Energy Fuels execs bought stock before Trump shrank Bears Ears
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- Energy Fuels executives purchased significant shares ahead of a major policy shift—CEO Ross Bhappu bought 74,000 shares on July 7, 2026, followed by board chair Bruce Hansen acquiring 4,000 shares the next day.
- Jared Huffman and Maxine Dexter launched an investigation into Energy Fuels, citing concerns that the shrinking of Bears Ears National Monument could directly benefit the company’s mining interests.
- Bears Ears Commission issued a statement condemning Trump’s removal of 1.24 million acres from the monument, calling it a setback to Indigenous stewardship and collaborative land management.
- Energy Fuels stated it holds no properties or economic interests within Bears Ears and denies advocating for boundary changes, while affirming compliance with environmental regulations.
- Department of Defense awarded Energy Fuels a $725 million loan in June to support rare earth element development, part of a broader Trump administration push for domestic critical mineral production.
- Energy Fuels announced an expansion of its White Mesa Mill to produce heavy rare earth materials, noting 'strong government support' as a competitive advantage in a July SEC filing.
Why it matters: The timing of insider stock purchases just before a federal land decision that benefits the company’s proximity to newly accessible minerals raises material questions about influence and accountability. If communications reveal coordination between Energy Fuels and officials, it could trigger ethics scrutiny and impact how future resource policies are vetted.
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