Atlas Lithium Corporation (NASDAQ: ATLX) has confirmed that its 100%-owned and fully permitted Neves Project in Minas Gerais, Brazil, remains on track for first commercial production of lithium oxide concentrate in the fourth quarter of 2027. The announcement underscores the company’s progress in advancing a project that is expected to produce approximately 150,000 tonnes annually, with written product interest from multiple companies totaling more than three times planned production capacity.
The project’s Definitive Feasibility Study (DFS) projects a 145% after-tax internal rate of return (IRR), an 11-month payback period, and operating costs of $489 per tonne. These metrics highlight the project’s economic viability and potential to generate substantial returns for investors. The company also reported progress on detailed engineering, project management, construction, earthworks, and electromechanical work, with partner contracts finalized at or below DFS budget levels.
The Neves operation is expected to generate more than 5,000 direct and indirect jobs in Brazil’s Jequitinhonha Valley, contributing to local economic development. Atlas Lithium holds approximately 557 square kilometers of mineral rights across Brazilian lithium districts, the largest lithium exploration footprint in Brazil among publicly listed companies. The company intends to expand Neves industrial capacity and develop additional processing facilities across its broader project portfolio.
This development is significant for the lithium market, as demand for lithium continues to rise with the global shift toward electric vehicles and renewable energy storage. Atlas Lithium’s fully permitted status and robust project economics position it to become a key supplier in the region. The company’s progress on construction and partnerships indicates that it is well-positioned to meet its production timeline.
For more information, visit Atlas Lithium’s website. The full press release is available at InvestorWire.
