Company: JUPGF
Filing Date: 2025-05-02
Form Type: DRS
Source: 0001641172-25-008279
Chunk: 89

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-05-02
Form: DRS
Chunk 89
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of 6.1%, reaching approximately 410 million tons. This growth trajectory is expected to continue, with projections indicating that
production will rise to 436.1 million tons in 2024, driven primarily by Vale, the country’s largest iron ore producer.
Vale’s strategic initiatives, including the expansion of its S11D and Vargem Grande mines, have been pivotal in enhancing production
capacity. Vale aims to increase its output to between 340 and 360 million tons by 2026, further solidifying Brazil’s position
in the global iron ore market.

Brazil’s iron ore production
is forecasted to grow at a CAGR of 3.8% from 2024 to 2030, potentially reaching 544.6 million tons by
the end of the decade. This growth will be supported by ongoing developments in various mining projects, including the Capanema,
Amapa, Morro do Pilar, and Colomi projects. However, the industry faces challenges such as environmental concerns, infrastructure bottlenecks,
and social conflicts, which could hinder its growth. Despite these hurdles, Brazil’s abundant iron ore reserves and the expansion
plans of leading producers position the country well for continued growth in the iron ore sector.

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Our Mineral Properties - Iron Ore

| Project                    |     | Mineral      
 Right Number |              |     | Area               
 (size in hectares) |          |     | Mineral  |     | Municipalities      |     | State, Country             |
| Rio Piracicaba Project     |     |              | 833.114/2012 |     |                    |   188.31 |     | Iron Ore |     | Rio Piracicaba      |     | Minas Gerais, Brazil       |
| Barão de Cocais Project    |     |              | 831.616/2019 |     |                    |   147.24 |     | Iron Ore |     | Barão de Cocais     |     | Minas Gerais, Brazil       |
| Itabira Project            |     |              | 830.627/2019 |     |                    | 1,534.74 |     | Iron Ore |     | Itabira             |     | Minas Gerais, Brazil       |
| Rio Pardo de Minas Project |     |              | 830.632/2021 |     |                    | 1,390.35 |     | Iron Ore |     | Rio Pardo