Company: JUPGF
Filing Date: 2025-11-12
Form Type: F-1/A
Source: 0001493152-25-021911
Chunk: 117

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-11-12
Form: F-1/A
Chunk 117
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 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 use in steel production highlights its importance
to various industries and the overall economy. As the U.S. continues to rely on imported iron ore, ensuring a stable supply chain and
enhancing domestic production capabilities will be crucial for maintaining competitiveness in manufacturing and infrastructure development.

Iron Ore in Brazil

Brazil is a powerhouse
in iron ore production, with significant potential for growth in the coming years. In 2023, Brazil’s iron ore mine production experienced
a robust growth 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.

The following is a description
of our iron ore mineral rights owned by the Company. All but one of these mineral rights are currently deemed by management to be immaterial
to the Company’s current business plans; however, as the Company’s business develops and market conditions render the further
development and extraction of iron ore economically feasible, management intends to monetize its mineral rights set forth below. A further