Atlas Lithium Advances Neves Lithium Project, Locks In 71% of Direct CAPEX

Atlas Lithium announced on September 9 that approximately 71% of direct capital expenditure for its Neves lithium project in Minas Gerais, Brazil, has been secured through executed contracts and firm agreements. Contracted costs are approximately 16% below the corresponding DFS budget, covering civil works, DMS plant installation, crushing systems, electrical infrastructure, engineering, project management and domestic logistics.

The DFS estimates direct CAPEX at approximately US$57.56 million, with designed production of around 146,000 mt/year of SC5.5 spodumene concentrate. The latest contracting progress marks another step toward construction and production.