Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 101

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 101
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Uranium

Overview

Uranium is essential for nuclear energy and weapons. The U.S. imports ~95% of uranium, primarily from Canada and Kazakhstan. China controls 13% of global production.

Uranium is a dense, silvery-white
metal with the chemical symbol U and atomic number 92. It is a naturally occurring element found in rocks, soil, and water, and it is
best known for its role as the primary fuel for nuclear power plants. Uranium’s unique properties, including its ability to undergo
nuclear fission—where the nucleus of an atom splits, releasing a significant amount of energy—make it a critical resource
for generating electricity and powering nuclear reactors. In addition to its energy applications, uranium also has important uses in
military technologies, including nuclear weapons and naval propulsion systems for submarines and aircraft carriers.

The global distribution
of uranium reserves is concentrated in a few key countries. Australia holds the largest share, accounting for approximately 28% of the
world’s known recoverable reserves, followed by Kazakhstan and Canada. Together, these three countries dominate global uranium
production, with Kazakhstan being the largest producer, responsible for over 40% of the world’s supply. Other significant producers
include Namibia, Niger, and Russia. The United States also has substantial uranium reserves, primarily in Wyoming and New Mexico, but
domestic production has declined significantly in recent decades, leaving the country reliant on imports to meet its needs.

Uranium’s primary
use is in the generation of nuclear energy. Nuclear power plants use enriched uranium, typically in the form of uranium dioxide pellets,
as fuel to produce electricity through controlled nuclear fission reactions. This process provides a reliable, low-carbon source of energy,
making nuclear power an important component of efforts to combat climate change. In addition to civilian energy production, uranium is
essential for military applications. Highly enriched uranium is used in the production of nuclear weapons, while lower-enriched uranium
powers naval reactors for submarines and aircraft carriers. The element is also used in research reactors and in the production of medical
isotopes for cancer treatment and diagnostic imaging.

Kazakhstan’s dominance
in uranium mining is largely due to its use of in situ recovery (ISR) technology, a cost-effective and environmentally less invasive
method of extracting uranium from underground deposits. The country’s state-owned company, Kazatomprom, is the world’s largest
uranium producer, supplying fuel to global markets. Canada, particularly through