Atlas Critical Minerals of Brazil Commences Iron Ore Mine Operations

On December 4, Atlas Critical Minerals announced that its iron ore project in Brazil has commenced mining operations, officially initiating revenue-generating activities. Currently, iron ore is being transported from the mine to a nearby third-party processing plant to be processed into high-quality sinter raw material.

The project is located in Minas Gerais, Brazil, one of the country's important iron ore producing regions. In 2020, the company acquired the mineral rights for the area where the project is located. In 2021 and 2022, the company conducted detailed geological exploration work, including drilling activities, covering approximately 10% of the mineral rights area. In 2022, the company released a summary of a preliminary technical report. In May 2024, the company obtained a 10-year operating license issued by the state of Minas Gerais, allowing for the annual mining of up to 300,000 mt of raw ore. In May 2025, the company received a mining concession from the Brazilian Ministry of Mining and Energy.