Boca Raton, Florida--(Newsfile Corp. - February 3, 2025) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company") is pleased to announce the successful shipment of its modular dense media separation (DMS) lithium processing plant from South Africa to Brazil. This milestone marks a significant step in the Company's progression toward becoming the next lithium producer in Brazil's resource-rich Lithium Valley.
Atlas Lithium's DMS plant represents a cornerstone of the Company's Neves Project, designed to deliver high-quality lithium concentrate to the global market for electric vehicles (EVs) and renewable energy storage systems. With worldwide lithium demand growing, Atlas Lithium is positioned to emerge as a key contributor to the sustainable energy transition.
The shipment, consisting of 141 containers and 10 bulk items, departed the Port of Durban, South Africa, on February 2, 2025, aboard the cargo vessel Irene's Wisdom (IMO: 9953391), marking the culmination of months of meticulous planning and preparation. The newly manufactured processing facility, fully paid for and owned by Atlas Lithium, is scheduled to arrive at the Port of Santos, Brazil, on March 2, 2025.
Atlas Lithium's CFO, Tiago Miranda, and Logistics Coordinator, Graciela Vieira, personally inspected the shipment prior to its departure from South Africa, ensuring components were securely packaged for the oceanic journey. Some remaining items of the plant, all of them spare parts, will be shipped to Brazil in two additional containers in March, 2025.
"The news announced today is transformational for Atlas Lithium as our fully paid processing plant significantly reduces project risk," said Eduardo Queiroz, Atlas Lithium's Project Management Officer (PMO) and Vice President of Engineering. "Our momentum is clear: from securing our operational permit in October, 2024, to completing fabrication of our optimized DMS plant in South Africa, and now executing its careful shipment to Brazil, Atlas Lithium has firmly delivered several critical milestones."
Innovative Features of the DMS Plant
The modular DMS plant incorporates cutting-edge and environmentally conscious design, setting a new benchmark for lithium processing:
Compact, Modular Design: Enables efficient transportation and installation.
Reduced Environmental Footprint: Optimized physical footprint minimizes environmental impact while ensuring high operational efficiency.
Advanced Water Conservation: Internal recycling systems drastically reduce water usage.
Sustainable Tailings Management: Dry-stacking technology eliminates the need for tailings dams, enhancing environmental sustainability.
Strategic Progress Toward Production
The Company believes that its operations in Brazil's Lithium Valley will benefit from significant strategic advantages, including competitive production costs and high-quality spodumene. Atlas Lithium is well-positioned to meet robust demand for premium-grade lithium concentrate, particularly from Asian markets where electric vehicle adoption continues to accelerate.
About Atlas Lithium Corporation
Atlas Lithium Corporation (NASDAQ: ATLX) is advancing to production its wholly owned hard-rock lithium Neves Project located in the state of Minas Gerais, Brazil. The Neves Project received operational permitting from Minas Gerais in October, 2024. Additionally, with approximately 539 square kilometers of lithium mineral rights, Atlas Lithium owns the largest lithium exploration footprint in Brazil of any publicly listed company. The company also holds an approximate 32% ownership stake in Atlas Critical Minerals Corporation (formerly Jupiter Gold Corporation), a diversified mining company with significant mineral rights in rare earths, copper, graphite, nickel, iron ore, gold, and quartzite.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium's ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.
Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled "Risk Factors" in the Company's Form 10-K/A filed with the Securities and Exchange Commission (the "SEC") on November 9, 2024. Please also refer to the Company's other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.
