Company: JUPGF
Filing Date: 2025-09-15
Form Type: F-1
Source: 0001493152-25-013292
Chunk: 107

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-09-15
Form: F-1
Chunk 107
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2023, over 50% of batteries produced utilized nickel-rich chemistries, underscoring its importance in the transition to cleaner energy
sources .

The global distribution
of nickel reserves is concentrated in a few key countries. As of 2023, Indonesia is the largest producer of nickel, accounting for approximately
54% of the world’s mined nickel supply. Other significant nickel-producing countries include the Philippines, Russia, Australia,
and Canada. Indonesia’s dominance in nickel production is expected to increase, with forecasts suggesting it will represent over
60% of global supply by 2028. The reserves are primarily found in laterite ores, which are rich in nickel and can be processed to produce
nickel metal.

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China plays a crucial role
in the processing of nickel, controlling a significant portion of the global nickel refining capacity. In 2023, it was reported that
around 54% of Indonesia’s nickel output came from Chinese majority-owned producers, highlighting the interconnectedness of the
two countries in the nickel supply chain. This concentration of processing capabilities raises concerns for other nations, particularly
the United States, which relies heavily on imported nickel for its industrial and technological needs.

Nickel is utilized in a
wide range of applications beyond batteries. Its primary use is in the production of stainless steel, which accounts for approximately
70% of global nickel consumption. Nickel is also essential in the aerospace and defense industries, where it is used in high-performance
alloys and components that require exceptional strength and resistance to corrosion. Additionally, nickel is used in the production of
catalysts for chemical processes and in various electronic applications, including data centers and AI technologies.

The importance of nickel
to the U.S. economy cannot be overstated, particularly as the country seeks to enhance its technological capabilities and reduce reliance
on foreign sources. In 2023, the U.S. imported over 159,000 tons of nickel, with 46% of these imports coming from Canada, which accounted
for only 4% of global production. The U.S. government has recognized nickel as a critical mineral, essential for national security and
economic stability. Efforts are underway to bolster domestic production and processing capabilities, including investments in mining
projects and partnerships with Canadian companies to secure a stable supply of nickel for future needs.

In summary, nickel is a
vital metal with significant reserves concentrated in a few countries, primarily Indonesia and the Philippines. Its diverse applications
across various industries highlight its importance to the U