House panel probes Energy Fuels executives for possible insider trading ahead of Bears Ears cut

The House Natural Resources Committee opened a probe into Energy Fuels, the owner of the White Mesa uranium mill in southeastern Utah, after its chief executive Ross Bhappu bought 74,000 shares and board chairman Bruce Hansen added 4,000 shares five days before the Trump administration reduced Bears Ears National Monument by more than a million acres. Democrats on the committee argue the purchases may reflect insider information, pointing to the company’s lobbying connections, a former Interior official on its payroll, and a $725 million Department of Defense loan for rare-earth processing.

Energy Fuels responded that the monument’s size is immaterial to its business, that the stock purchases followed SEC guidelines, and that no evidence of misconduct exists. The company also noted that its stock price fell after the announcement, undermining claims of immediate profit. The inquiry highlights broader concerns about corporate influence on federal land-use decisions and potential securities violations.