Company: JUPGF
Filing Date: 2025-08-27
Form Type: DRS/A
Source: 0001493152-25-012379
Chunk: 107

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-08-27
Form: DRS/A
Chunk 107
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 countries
raises concerns about supply chain vulnerabilities for nations that rely heavily on imported iron ore, including the United States.

Iron ore is primarily used in the production of
steel, which is vital for various industries, including construction, automotive, and manufacturing. Approximately 98% of the mined iron
ore is used to produce steel, making it one of the most important commodities in the global economy. Additionally, iron ore is used
in the production of cast iron, which is utilized in pipes, machinery, and automotive components. The demand for iron ore is closely
linked to global economic growth, as increased infrastructure development and industrial activity drive the need for steel.

The importance of iron ore to the U.S. economy
is significant, particularly as the country seeks to enhance its manufacturing capabilities and infrastructure. The U.S. is one of the
largest consumers of iron ore, with domestic production meeting only a fraction of its needs. In 2023, the U.S. produced approximately
48 million 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