Atlas Lithium Obtains Neves Permit for 146,000-Tonne Output Project with 145% IRR
ATLX•Atlas Lithium secured an expansion permit for its 100%-owned Neves Project in Minas Gerais, advancing its DFS that forecasts annual output of 146,000 tonnes of lithium concentrate with a 145% after-tax IRR and an 11-month payback. The study estimates operating costs of $489 per tonne versus market prices near $2,200.
1. Expansion Permit and Project Implementation
Atlas Lithium secured an expansion permit for its 100%-owned Neves Project in Minas Gerais, moving the project into its implementation phase as outlined in the DFS.
2. DFS Confirms Exceptional Economics
The DFS anticipates annual production of 146,000 tonnes of lithium concentrate with a 145% after-tax IRR, an 11-month payback, and $489 per tonne operating costs compared with market prices near $2,200.
3. Modular Plant and Environmental Standards
A modular Dense Media Separation plant has been delivered to Brazil and is ready for assembly, featuring advanced water recirculation and 100% dry-stacked tailings to achieve low water usage and high environmental standards.
4. Strategic Partnerships and Growth Prospects
Atlas Lithium partners with Promon Engenharia, TSX Engineering, Cerne Construções and Alfa Engenharia, benefits from a $30 million equity investment by Mitsui & Co., and holds the largest lithium exploration footprint in Brazil at 557 square kilometers.
