Company: JUPGF
Filing Date: 2025-10-08
Form Type: F-1/A
Source: 0001493152-25-017439
Chunk: 106

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-10-08
Form: F-1/A
Chunk 106
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 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 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