Company: JUPGF
Filing Date: 2025-05-02
Form Type: DRS
Source: 0001641172-25-008279
Chunk: 80

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-05-02
Form: DRS
Chunk 80
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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 its high-grade uranium mines in Saskatchewan, also plays a crucial role
in the global supply chain. However, the processing and enrichment of uranium are concentrated in a few countries, with Russia, the United
States, France, and China leading in enrichment capacity. This concentration has raised geopolitical concerns, particularly in light
of tensions between major powers.

For the United States, uranium is a critical
mineral due to its importance in both energy security and national defense. Nuclear power provides about 20% of the country’s electricity
and is its largest source of carbon-free energy. However, the U.S. currently imports over 90% of its uranium, primarily from Canada,
Kazakhstan, and Australia, making it highly dependent on foreign sources. The U.S. government has been working to revitalize domestic
uranium mining and processing capabilities, including the establishment of a strategic uranium reserve to reduce reliance on imports
and ensure a stable supply for both civilian and military needs.

As the world transitions to cleaner energy sources,
uranium’s role in the global economy is expected to grow. Nuclear power is increasingly recognized as a key component of strategies
to reduce carbon emissions, particularly in countries seeking to replace coal and other fossil fuels. The development of advanced nuclear
technologies, such as small modular reactors (SMRs) and next-generation reactors, could further increase demand for uranium. However,
challenges such as public opposition to nuclear power, concerns about nuclear waste, and geopolitical tensions surrounding uranium supply
chains must be addressed. Given its critical role in energy and security, uranium will continue to be a vital resource in the decades
to come.

Uraniumin Brazil

Brazil holds significant uranium reserves, ranking among the top ten countries globally in identified resources. However, uranium mining in Brazil is subject to stringent government control, as uranium extraction, processing, and commercialization fall under state monopoly, as defined by the Brazilian Constitution. Indústrias Nucleares do Brazil (“INB”) is the state-owned company responsible for uranium mining and nuclear fuel production in the country.

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The Federal Constitution establishes that “the exploration of nuclear services and facilities of any kind,