Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 97

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 97
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mining and processing of natural graphite are not evenly distributed globally. China dominates the processing sector, controlling over
60% of the world’s graphite production and refining capabilities. This concentration of processing capacity raises concerns about
supply chain vulnerabilities for countries that rely heavily on imported graphite.

Natural graphite is used
in a wide range of applications, with the most significant demand coming from the battery industry, particularly for lithium-ion batteries
(“LIBs”). As the world transitions to EVs and renewable energy storage solutions, the demand for natural graphite is expected
to surge. In 2023, approximately 33% of natural graphite was used in batteries, while other applications included lubricants, refractories,
and foundry products. The unique properties of natural graphite, such as its ability to withstand high temperatures and its excellent
conductivity, make it an ideal material for these applications. Furthermore, the growing emphasis on sustainability and environmental
responsibility has led to increased interest in natural graphite, as it is often considered more environmentally friendly compared to
synthetic alternatives.

The importance of natural
graphite to the U.S. economy is significant, particularly as the country seeks to enhance its technological capabilities and reduce dependence
on foreign sources. The U.S. has identified natural graphite as a critical mineral, essential for national security and economic stability.
Currently, the U.S. relies heavily on imports for its graphite supply, with a substantial portion coming from China. This reliance poses
risks, especially in light of geopolitical tensions and trade restrictions. To mitigate these risks, the U.S. government is actively
pursuing strategies to bolster domestic production and processing of natural graphite, which could enhance supply chain resilience and
support the growth of clean energy technologies.

When comparing natural
graphite to synthetic graphite, several advantages of natural graphite become apparent. Natural graphite typically has a higher crystalline
structure, which results in better electrical and thermal conductivity than synthetic graphite. Additionally, natural graphite is often
less expensive to produce, as it requires less energy and fewer resources compared to the energy-intensive processes involved in synthesizing
graphite. The environmental impact of natural graphite extraction can also be lower than that of synthetic graphite production, particularly
when sustainable mining practices are employed. As demand for graphite continues to rise, the benefits of natural graphite over synthetic
alternatives will likely play a crucial role in shaping future supply chains and market dynamics.

In summary, natural graphite
is a vital resource with significant reserves concentrated in a few countries, primarily China. Its applications in batteries and