Company: JUPGF
Filing Date: 2025-07-01
Form Type: DRS/A
Source: 0001641172-25-017223
Chunk: 107

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-01
Form: DRS/A
Chunk 107
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 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.

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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 development plan; 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 description
of the Company’s immaterial iron ore mineral rights, including maps showing the locations, is attached as Exhibit 99.1 to this
registration statement of which this prospectus forms a part.

| Project                    |     | Mineral      
 Right Number |              |     | Area               
 (size in hectares) |          |     | Mineral  |     | Municipalities      |     | State, Country             |
| Rio Piracicaba Project     |     |              | 833.114/