Atlas Lithium (NASDAQ: ATLX) reported that its 100%-owned and fully permitted Neves Project in Minas Gerais, Brazil, remained on track for first commercial production of lithium oxide concentrate in the fourth quarter of 2027. The vertically integrated mining and processing complex is designed to produce approximately 150,000 tonnes annually, while written product interest from multiple companies totals more than three times planned production capacity. The project Definitive Feasibility Study projected a 145% after-tax internal rate of return, an 11-month payback period and operating costs of $489 per tonne.
Atlas Lithium also reported progress on detailed engineering, project management, construction, earthworks and electromechanical work, with partner contracts finalized at or below Definitive Feasibility Study budget levels. The company expects the Neves operation to generate more than 5,000 direct and indirect jobs in Brazil Jequitinhonha Valley. Atlas Lithium holds approximately 557 square kilometers of mineral rights across Brazilian lithium districts and intends to expand Neves industrial capacity and develop additional processing facilities across its broader project portfolio.
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About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is a lithium development company focused on advancing its Neves Project to production. The Neves Project is fully permitted, and its Definitive Feasibility Study demonstrates robust economics with a 145% IRR and an 11-month payback. With approximately 557 square kilometers of lithium mineral rights, Atlas Lithium owns the largest lithium exploration footprint in Brazil among publicly listed companies. Additionally, Atlas Lithium currently holds an approximate 20% ownership stake in Atlas Critical Minerals Corporation (NASDAQ: ATCX).
For more information, please visit: https://www.atlas-lithium.com/
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