Executives Bought Energy Fuels Stock Before Bears Ears Cut

Congressional Democrats have initiated an investigation into the mining company Energy Fuels following substantial stock purchases by its CEO and chairman mere days before President Donald Trump significantly reduced the size of the neighboring Bears Ears National Monument in southeastern Utah. The Denver-based company operates the White Mesa Mill, which is the sole conventional uranium processing facility remaining in the United States. This mill is situated approximately one mile from the original boundary of Bears Ears. On July 7, 2026, CEO Ross Bhappu executed the largest insider stock purchase in the company's history, acquiring 74,000 shares. This transaction increased Bhappu's total ownership in Energy Fuels to 41 percent, as detailed in a news release from the House Natural Resources Committee Democrats. The following day, Board Chair Bruce Hansen purchased an additional 4,000 shares. Less than a week after these insider trades, President Trump formally removed 1.24 million acres from Bears Ears National Monument, thereby making this land accessible for potential mining activities. The day after Trump's proclamation, the Bears Ears Commission, a collective of five Tribal Nations, released a statement expressing their deep concern. They articulated that the decision "weakens protections for a living cultural landscape and sacred ancestral homeland that has been cared for by Indigenous peoples since time immemorial and is a major setback to one of the nation’s most extraordinary models of collaborative management of public lands between Tribal Nations and federal agencies." In response to these events, Jared Huffman, a Democrat representing California and the ranking member of the House Natural Resources Committee, along with Maxine Dexter, the ranking Democrat from Oregon on the Oversight and Investigations Subcommittee, announced on Monday the commencement of their investigation into Energy Fuels. In a letter addressed to CEO Ross Bhappu, the lawmakers stated, "We understand that monument boundaries were redrawn in a way that could benefit Energy Fuels." A spokesperson for Energy Fuels acknowledged awareness of the letter and affirmed that the company "takes it seriously." The company also stated, "The Company is unaware of any evidence supporting the implication that the boundary changes were influenced by or intended to benefit Energy Fuels."