Atlas Critical Minerals ATCX

Atlas Critical Minerals Corporation is a mineral exploration company focused on critical minerals projects and properties in Brazil. The company holds a diverse portfolio of mineral rights covering rare earths, graphite, titanium, copper, nickel, gold and other commodities, while also maintaining an operating iron ore lease and a quartzite quarry. Its wholly owned subsidiaries include Mineração Jupiter Ltda, Mineração Ltda, Mineração Duas Barras Ltda and RST Recursos Minerais Ltda, which hold the underlying mineral titles and support field activities. The firm’s strategy is to advance exploration of these assets to identify resources that can supply the growing global demand for materials used in clean energy, defense and high tech applications.

The company generates revenue primarily from its iron ore lease, under which it receives a payment per tonne of run of mine ore extracted based on the Platts IODEX 62% Fe reference price, with a minimum threshold, and it also passes on certain royalties to the lessor. The lease requires a minimum quarterly volume of 50,000 tons, providing a steady baseline for cash flow while the exact payment fluctuates with the monthly index. In addition, the quartzite quarry contributed gross revenues of $748,654 in 2024 from the sale of 610.09 cubic meters of blocks and 1,384.92 square meters of polished slabs, and generated $94,177 in 2025 from the sale of remaining inventory. Beyond these operating streams, the firm may earn future income from the extraction and sale of rare earths, graphite, titanium and other minerals once its exploration programs advance to a development stage. To fund its operations, Atlas Critical Minerals has relied mainly on equity capital, completing an underwritten public offering in January 2026 that sold 1,200,000 shares at $8.00 per share and, after the full exercise of an over allotment option for 180,000 additional shares, raised approximately $11.0 million in gross proceeds and about $9.7 million net of expenses. The company has no long term debt and carries only ordinary operational payables.

Within the critical minerals sector, Atlas Critical Minerals positions itself as an emerging explorer with a diversified portfolio of rare earths, graphite, titanium and other strategic minerals located in Brazil, a nation known for substantial geological endowment. Brazil hosts some of the world’s largest reserves of rare earths, graphite and iron ore, giving the company a geographic advantage in accessing minerals that are essential for clean energy technologies, defense systems and high tech manufacturing. The firm competes with larger integrated miners such as Vale and Anglo American, as well as numerous junior exploration companies that focus on similar commodities. Its competitive edge lies in the early stage nature of its projects, which allow it to secure prospective ground at lower cost and to tailor exploration programs to the specific technical requirements of end users in the automotive, renewable energy and aerospace sectors. Furthermore, the company benefits from the global push to diversify supply chains away from dominant producers, a trend that increases the strategic value of reliable sources of critical minerals from politically stable jurisdictions such as Brazil.

The company’s current customers are primarily third party processors and traders that purchase its iron ore under the lease agreement and buyers of quartzite blocks and slabs for construction, industrial and decorative applications. While specific customer names are not disclosed in the filing, the iron ore is sold to processors that supply steel mills, and the quartzite is distributed to wholesalers and retailers serving the architecture and design markets in North America and Europe.