Company: JUPGF
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0001641172-25-022982
Chunk: 115

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-11
Form: DRS/A
Chunk 115
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 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 Tinto, and Fortescue
Metals Group operate extensive mining operations in Australia, particularly in the Pilbara region, which is renowned for its high-quality
iron ore deposits. Brazil’s Vale S.A. is another significant player in the iron ore market, operating the Carajás mine,
one of the largest and most productive iron ore mines in the world. The concentration of production and processing in these countries
raises concerns about supply chain vulnerabilities for nations that rely heavily on imported iron ore, including the United States.

Iron ore is primarily used in the production of
steel, which is vital for various industries, including construction, automotive, and manufacturing. Approximately 98% of the mined iron
ore is used to produce steel, making it one of the most important commodities in the global economy. Additionally, iron ore is used
in the production of cast iron, which is utilized in pipes, machinery, and automotive components. The demand for iron ore is closely
linked to global economic growth, as increased infrastructure development and industrial activity drive the need for steel.

The importance of iron ore to the U.S. economy
is significant, particularly as the country seeks to enhance its manufacturing capabilities and infrastructure. The U.S. is one of the
largest consumers of iron ore, with domestic production meeting only a fraction of its needs. In 2023, the U.S. produced approximately
48 million metric tons of iron ore, while importing around 60 million metric tons to satisfy demand. The reliance on imported iron
ore, primarily from Brazil and Canada, underscores the need for a stable supply chain to support the U.S. steel industry, which is critical
for national security and economic stability.

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Iron ore is a vital mineral resource
with significant reserves concentrated in Australia and Brazil. Its primary