Atlas Lithium Corporation - ATLX STOCK NEWS

Atlas Lithium (NASDAQ: ATLX) has received the operational permit for its Neves Project from Minas Gerais state, Brazil. The permit, unanimously approved by a twelve-member voting board, authorizes the company to assemble and operate its lithium processing plant, process mined ore, and sell lithium concentrate. This triphasic permit (LI/LP/LO) combines initial, installation, and operating licenses in a single authorization, following a fourteen-month technical review process that began on September 1, 2023. The permit represents a important milestone in Atlas Lithium's path to becoming a lithium producer and is expected to create hundreds of local jobs in the Vale do Jequitinhonha area.

Atlas Lithium (NASDAQ: ATLX) has reached a significant milestone in its permitting process for the Neves Project. The state of Minas Gerais Environmental Foundation's technical management group has issued a 161-page technical report recommending approval of Atlas Lithium's operational permit application. This is important for the company's ability to assemble and operate its lithium processing plant.

The company filed the application on September 1, 2023, and has since addressed multiple technical questions from the agency. Concurrently, Atlas Lithium is preparing to ship its compact and modular lithium processing plant from South Africa to Brazil. The plant is designed to be environmentally sustainable, with reduced height, weight, and footprint, maximizing water recycling and employing dry stacking of tailings without dams.

Atlas Lithium (NASDAQ: ATLX) has been recognized for its innovative spodumene concentrate plant design, which has been selected as a finalist for a November 14, 2024 contest in Minas Gerais, Brazil. The design is compact, modular, and environmentally sustainable, with significantly lower weight, physical footprint, and water usage compared to traditional plants.

The company's modular Dense Media Separation (DMS) lithium processing plant is in its final fabrication phase, with 48 out of over 100 expected containers ready for shipment from South Africa to Brazil. Atlas Lithium is also making progress in discussions with U.S. government officials regarding critical minerals, hosting diplomatic meetings and receiving recognition for its community contributions.

Atlas Lithium (NASDAQ: ATLX) is preparing to ship its modular dense media separation (DMS) lithium processing plant from South Africa to Brazil. The company's team recently visited South Africa to oversee the preparation of plant components. 48 containers have been packed so far, with over 100 containers expected before shipment from Durban to Santos.

The modular DMS plant represents a significant advancement for Brazil's lithium industry, offering reduced production costs and lower water consumption. The plant's components have undergone trial assembly in South Africa, with some final pieces still in fabrication. The modular design is expected to streamline transportation, installation, and commissioning processes, while its reduced footprint makes it environmentally friendly.

Atlas Lithium has more than doubled its lithium exploration footprint in Brazil to approximately 539 km². The expansion includes new claims in the Doce River and Mucuri Valleys, promising regions for lithium. The company is progressing with a Definitive Feasibility Study (DFS) for its Neves Project, expected to be completed before production starts in Q4 2024. Initial exploration within the newly acquired areas has identified several lithium-rich pegmatites. Atlas Lithium's dense media separation plant is set for shipment in Q3 2024, with production anticipated later that year. The company aims to leverage its first-mover advantage in Brazil's burgeoning lithium sector, positioning itself as a leading producer.

Atlas Lithium (NASDAQ: ATLX) will co-host the inaugural Brazil Lithium Summit from June 11-13, 2024, in Belo Horizonte, Brazil.

The summit, endorsed by Invest Minas, will gather key industry players and investors to discuss Brazil's lithium potential.

Atlas Lithium CEO Marc Fogassa will introduce the event and moderate a panel featuring Ernie Ortiz, CEO of Lithium Royalty (LRC), which invested $20 million in Atlas Lithium in 2023. Mitsui & Co. , which invested $30 million and signed an offtake agreement for Atlas Lithium's Neves Project, will also be represented.

Other strategic partnerships include Chengxin and Yahua, major suppliers to EV manufacturers BYD and Tesla. Atlas Lithium's processing plant is nearing completion, with production slated for Q4 2024.

The summit aims to strengthen Atlas Lithium's role in the global lithium supply chain amid the rapidly growing EV industry.

Atlas Lithium's modular dense media separation (DMS) lithium processing plant is in the final fabrication and trial assembly stage, marking a significant milestone for the company. The innovative design streamlines transportation, installation, and commissioning, with reduced environmental impact. This advancement aligns with Atlas Lithium's goal of producing high-quality, environmentally sustainable lithium concentrate by Q4 2024.

Atlas Lithium (NASDAQ: ATLX) secures a $30 million investment from Mitsui & Co., , at a 10% premium to the 5-day VWAP, along with a significant offtake agreement for lithium concentrate. The investment provides immediate funds for development towards revenue generation and operation of a lithium mine in Brazil's Lithium Valley. The partnership with Mitsui strengthens Atlas Lithium's position as a key lithium supplier to the global EV battery materials supply chain.

Renowned lithium expert Brian Talbot joins Atlas Lithium as COO and Board Member, enhancing early revenue strategy targeting first lithium concentrate production in Q4 2024.