Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 109

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 109
---
 Piauí,  
 Brazil  |

Iron Ore

Overview

The following is an overview
of our planned iron ore operations. Although we have a permit to operate an iron ore mine with planned operations commencing prior to
the end of 2025, our primary focus is on our critical mineral properties.

Historically, iron has
been an essential metal to human development and economic growth. According to the U.S. Geological Survey, over 98% of mined iron ore
is used in steel manufacturing. Brazil exported approximately $30 billion in iron ore in 2024 and is the second biggest iron ore producer
and exporter in the world, after Australia. China remains the world’s largest importer of iron ore, and its demand continues to
be a primary driver of the global iron ore market. While fluctuations occur due to various economic factors within China, including government
policies and the performance of its real estate sector, its vast industrial base and ongoing infrastructure projects maintain a significant
appetite for steel and, consequently, iron ore. India’s demand also continues to grow, contributing to the overall global demand
for iron ore.

Iron ore is a naturally
occurring mineral from which iron (Fe) is extracted. It is primarily composed of iron oxides, with the most common types being hematite
(FeO) and magnetite (FeO). Iron ore is a critical raw material in the production of steel,
which is essential for construction, manufacturing, and various industrial applications. The extraction and processing of iron ore involve
several stages, including mining, crushing, and beneficiation, which enhance the ore’s iron content before it is smelted in blast
furnaces to produce pig iron and subsequently steel.

As of 2023, the largest
reserves of iron ore are concentrated in a few key countries. Australia leads the world with approximately 50 billion metric tons of
iron ore reserves, accounting for about 29% of the global total. Brazil follows with around 30 billion metric tons, while Russia, China,
and India also hold significant reserves, with estimates of 25 billion, 23 billion, and nine billion metric tons, respectively. These
countries play a crucial role in the global iron ore market, with Australia and Brazil being the top exporters, supplying a substantial
portion of the iron ore consumed worldwide.

Australia is not only the
largest holder of iron ore reserves but also the leading producer and exporter of iron ore globally. Major mining companies such as BHP,
Rio T