Atlas Lithium's Neves Project on Track for Q4 2027 Production, Poised to Meet Oversubscribed Demand

Atlas Lithium Corporation (NASDAQ: ATLX) announced that its 100%-owned and fully permitted Neves Project in Minas Gerais, Brazil, remains on schedule for first commercial production of lithium oxide concentrate in the fourth quarter of 2027. The project, which is a vertically integrated mining and processing complex, is designed to produce approximately 150,000 tonnes annually. Notably, written product interest from multiple companies already totals more than three times the planned production capacity, indicating robust market demand for the project's output.

The economic viability of the Neves Project is underscored by its Definitive Feasibility Study (DFS), which projects a 145% after-tax internal rate of return (IRR), an 11-month payback period, and operating costs of $489 per tonne. These figures highlight the project's potential to generate substantial returns for the company and its investors. The DFS also validates the project's cost competitiveness within the lithium industry, positioning Atlas Lithium to capitalize on the growing demand for lithium, a key component in electric vehicle batteries and energy storage systems.

Atlas Lithium also reported significant progress on detailed engineering, project management, construction, earthworks, and electromechanical work. The company has finalized partner contracts at or below the budget levels outlined in the DFS, demonstrating effective cost control and project execution. Additionally, the Neves operation is expected to generate more than 5,000 direct and indirect jobs in Brazil's Jequitinhonha Valley, contributing to local economic development and social impact.

The company's strategic position is further strengthened by its extensive landholdings, with approximately 557 square kilometers of mineral rights across Brazilian lithium districts. This expansive footprint provides Atlas Lithium with significant exploration upside and the flexibility to expand the Neves industrial capacity and develop additional processing facilities across its broader project portfolio. The company's commitment to expanding its operational base is aligned with the global transition to clean energy, as lithium is essential for the production of batteries that power electric vehicles and renewable energy storage.

The Neves Project's progress is a critical milestone for Atlas Lithium as it moves from a development-stage company to a producer. With demand for lithium expected to surge in the coming years, driven by government policies promoting electric vehicle adoption and the decarbonization of the energy sector, the company is well-positioned to become a key supplier in the market. The project's favorable economics and the overwhelming interest from potential off-takers underscore its importance not only to Atlas Lithium but also to the broader lithium supply chain.

For more details on the announcement, visit the full press release. Atlas Lithium Corporation is a lithium development company focused on advancing its Neves Project to production. The company owns the largest lithium exploration footprint in Brazil among publicly listed companies and holds an approximate 20% ownership stake in Atlas Critical Minerals Corporation (NASDAQ: ATCX). For more information, visit Atlas Lithium's website.