Company: JUPGF
Filing Date: 2025-07-25
Form Type: DRS/A
Source: 0001641172-25-021053
Chunk: 95

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-25
Form: DRS/A
Chunk 95
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 distributed globally. China dominates the processing sector, controlling over 60% of the world’s
graphite production and refining capabilities. This concentration of processing capacity raises concerns about supply chain vulnerabilities
for countries that rely heavily on imported graphite.

Natural graphite is used in a wide range of applications,
with the most significant demand coming from the battery industry, particularly for lithium-ion batteries (“LIBs”). As the world transitions
to EVs and renewable energy storage solutions, the demand for natural graphite is expected to surge. In 2023, approximately
33% of natural graphite was used in batteries, while other applications included lubricants, refractories, and foundry products.
The unique properties of natural graphite, such as its ability to withstand high temperatures and its excellent conductivity, make it
an ideal material for these applications. Furthermore, the growing emphasis on sustainability and environmental responsibility has led
to increased interest in natural graphite, as it is often considered more environmentally friendly compared to synthetic alternatives.

The importance of natural graphite to the U.S.
economy is significant, particularly as the country seeks to enhance its technological capabilities and reduce dependence on foreign
sources. The U.S. has identified natural graphite as a critical mineral, essential for national security and economic stability. Currently,
the U.S. relies heavily on imports for its graphite supply, with a substantial portion coming from China. This reliance poses risks,
especially in light of geopolitical tensions and trade restrictions. To mitigate these risks, the U.S. government is actively pursuing
strategies to bolster domestic production and processing of natural graphite, which could enhance supply chain resilience and support
the growth of clean energy technologies.

When comparing natural graphite to synthetic graphite,
several advantages of natural graphite become apparent. Natural graphite typically has a higher crystalline structure, which results
in better electrical and thermal conductivity than synthetic graphite. Additionally, natural graphite is often less expensive to produce,
as it requires less energy and fewer resources compared to the energy-intensive processes involved in synthesizing graphite. The
environmental impact of natural graphite extraction can also be lower than that of synthetic graphite production, particularly when sustainable
mining practices are employed. As demand for graphite continues to rise, the benefits of natural graphite over synthetic alternatives
will likely play a crucial role in shaping future supply chains and market dynamics.

In summary, natural graphite is a vital resource
with significant reserves concentrated in a few countries, primarily China. Its applications in batteries and other industries underscore
its importance to the U.S. economy, particularly as the nation seeks to enhance its