Company: JUPGF
Filing Date: 2025-07-25
Form Type: DRS/A
Source: 0001641172-25-021053
Chunk: 107

Company: ATLAS CRITICAL MINERALS Corp
Filing Date: 2025-07-25
Form: DRS/A
Chunk 107
---
-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.S. economy, particularly in the context of the growing demand for electric vehicles and renewable energy
technologies. Ensuring a stable supply chain and enhancing domestic production capabilities will be crucial for maintaining the U.S.’s
competitive edge in technology and manufacturing.

Nickel in Brazil

Brazil has significant potential for nickel production,
positioning itself as one of the key players in the global nickel market. As of 2023, Brazil ranks as the eighth-largest nickel producer
in the world, contributing approximately 2% of global nickel output. The country has seen a CAGR of 3%
in nickel production from 2017 to 2022, with expectations of an accelerated growth rate of 8% CAGR from 2023 to 2027. Major producers
in Brazil include mining giants such as Vale and Anglo American, which have been expanding their operations and increasing output. For
instance, Vale’s nickel production has been bolstered by its extensive mining infrastructure