Atlas Lithium Contracts Key Project Execution Partners to Drive Its Neves Project Toward Production

Atlas Lithium (NASDAQ: ATLX) contracted key operational partners to execute its 100%-owned Neves Project, awarding engineering, EPC and civil works agreements after a competitive selection.

Rhea-AI Summary

Atlas Lithium (NASDAQ: ATLX) contracted key operational partners to execute its 100%-owned Neves Project, awarding engineering, EPC and civil works agreements after a competitive selection.

As per the DFS, the project targets ~146,000 tonnes of lithium concentrate per year at an estimated operating cost of $489/tonne mine gate, with concentrate trading near $2,000/tonne.

Positive

• Contracts awarded at or below DFS budget projections
• Project production target: 146,000 t lithium concentrate per year
• Estimated operating cost: $489/tonne at mine gate
• EPC and engineering partners with Brazil mining experience engaged

Negative

• Additional scopes remain under selection; not all partners are contracted
• Press release does not state a definitive commercial production start date

Argus Apr 27 session

+7.66% close to close Open Argus

Details

News Market Reaction – ATLX

On Apr 27, the day this news came out, ATLX closed 7.66% above the previous close.

Data tracked by StockTitan Argus for the Apr 27 session.

Key Figures

Planned lithium concentrate output: 146,000 tonnes per year Operating cost: $489 per tonne Recent lithium concentrate price: $2,000 per tonne +2 more

Planned lithium concentrate output

146,000 tonnes per year

Neves Project DFS production expectation

Operating cost

$489 per tonne

Estimated Neves operating cost at the mine gate

Recent lithium concentrate price

$2,000 per tonne

Reference market price cited in release

Promon project track record

2,700 projects

Number of projects delivered by Promon Engenharia

RETC experience

over 40 years

Combined experience delivering industrial projects in Brazil

Historical Context

5 past events · Latest: Apr 07

5 events

1. Apr 07

   Board appointment

   24h Move

   +4.6%

   Appointment of Admiral Flávio Rocha as independent director to strengthen governance.

2. Apr 02

   Strategic partnership

   24h Move

   +5.0%

   Neves named in U.S.–Japan critical minerals framework with potential government support.

3. Jan 14

   Subsidiary listing

   24h Move

   +5.2%

   Atlas Critical Minerals subsidiary begins Nasdaq trading, highlighting large Brazil portfolio.

4. Dec 22

   Project advancement

   24h Move

   +15.6%

   Final-stage contracting for Neves project management and construction supervision.

5. Dec 05

   Equity offering

   24h Move

   -9.5%

   $10M registered direct share offering to fund Neves and corporate purposes.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

definitive feasibility study, lithium concentrate, engineering, procurement, and construction (epc), operating cost

4 terms

definitive feasibility study technical

"the budget projections outlined in the Company's Definitive Feasibility Study (the "DFS")"

A definitive feasibility study is a detailed, near-final assessment that shows whether a proposed project—often a mine, infrastructure or major industrial venture—can be built and operated profitably. It combines precise engineering plans, realistic cost estimates, production schedules and risk analysis to give lenders and investors a clear picture of expected returns and potential pitfalls, like a full blueprint and budget that helps decide whether to greenlight financing and construction.

lithium concentrate technical

"The Neves Project is expected to produce approximately 146,000 tonnes of lithium concentrate per year"

Lithium concentrate is a processed mineral product where raw ore has been crushed and refined to raise its lithium content, like turning sugarcane into a concentrated sugar product ready for further refining. Investors care because it is the main feedstock for making battery-grade lithium used in electric vehicles and energy storage; its availability, quality and price directly affect battery supply chains and the profitability of miners and battery manufacturers.

engineering, procurement, and construction (epc) technical

"Cerne Construções - Engaged under an Engineering, Procurement, and Construction (EPC) contract"

Engineering, procurement, and construction (EPC) is a contracting model in which one firm designs a project, buys the required equipment and materials, and builds the facility, delivering a finished, ready-to-operate asset. Investors care because EPC contracts bundle responsibility for cost, schedule and quality with a single party—like hiring a general contractor for a home renovation—so project risk, potential delays and cost overruns hinge on that contractor’s performance and financial strength.

operating cost financial

"at an estimated operating cost of $489 per tonne at the mine gate"

Operating cost is the ongoing money a business spends to run its core activities, such as wages, rent, utilities, materials, and routine maintenance. Like household bills that keep a home functioning, lower or more predictable operating costs leave more cash available for profits, growth, dividends, or debt payments, so investors watch them closely to judge efficiency, sustainability of earnings, and the company’s real ability to generate returns.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Boca Raton, Florida--(Newsfile Corp. - April 27, 2026) - Atlas Lithium Corporation (NASDAQ: ATLX) ("Atlas Lithium" or the "Company"), a leading developer of lithium resources, is pleased to announce the engagement of key operational partners for the implementation of its 100%-owned Neves Project. Several qualified firms participated in a competitive selection process led by Atlas Lithium's technical team. Contracts were awarded based on a comprehensive evaluation of relevant criteria, including technical experience, proven performance, quality, and cost efficiency. Each awarded contract was finalized at or below the budget projections outlined in the Company's Definitive Feasibility Study (the "DFS"). As detailed in the DFS, the Neves Project is expected to produce approximately 146,000 tonnes of lithium concentrate per year at an estimated operating cost of $489 per tonne at the mine gate. For reference, lithium concentrate has recently traded at approximately $2,000 per tonne.

The selected companies were chosen through a rigorous vetting process that emphasized technical alignment, execution capability, and adherence to Atlas Lithium's stringent quality and schedule standards. Each of these partners brings a strong track record of performance and deep experience in Brazil's mining sector.

Key Operational Partners

• Promon Engenharia - Responsible for completing multiple detailed engineering components for the Neves Project. Founded in 1960, Promon has delivered more than 2,700 projects and has notable experience in lithium project development in Brazil.

• TSX Engineering - Appointed to oversee and manage project implementation for the Neves Project. Founded in 2019, TSX Engineering brings extensive expertise in the mining sector, including capital expenditure and cost management, project planning & controls, and risk management.

• Cerne Construções - Engaged under an Engineering, Procurement, and Construction (EPC) contract for the design and construction of the Neves Project's administrative and operational facilities. Founded in 1989, Cerne offers modular construction solutions and broad experience in mining infrastructure.

• RETC Infraestrutura - Responsible for earthworks and civil construction activities for the Neves Project. The RETC team brings over 40 years of combined experience delivering complex industrial projects across Brazil.

In addition to the key firms mentioned above, Atlas Lithium's technical team is rapidly advancing the selection of additional operational partners for remaining scopes of the Neves Project implementation, as detailed in the DFS, with the goal of achieving 100% readiness in the coming weeks.

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is a lithium exploration and development company focused on advancing its Neves Project to production. The Neves Project's Definitive Feasibility Study demonstrates excellent economics with a 145% IRR, $539 million NPV, and an 11-month payback. The Neves Project has received operational permitting, and its dense media separation plant has been acquired and transported to Brazil. With approximately 557 square kilometers of lithium mineral rights, Atlas Lithium owns the largest lithium exploration footprint in Brazil among publicly listed companies. Additionally, Atlas Lithium currently holds an approximate 21% ownership stake in Atlas Critical Minerals Corporation (NASDAQ: ATCX).

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: Atlas Lithium's ability to successfully assemble and begin operations of its modular plant; reaching estimated production, development plans and cost estimates for the Neves Lithium Project as reported in the Definitive Feasibility Study (the "DFS"), included as Exhibit 96.1 to the Company's Current Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 4, 2025; discrepancies between actual and estimated mineral reserves and mineral resources, between actual and estimated development and operating costs, and between estimated and actual production; 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 filed with the SEC on March 4, 2026. 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 unless as otherwise required by applicable law.

Investor Relations
Gary Guyton
Vice President, Investor Relations
+1 (833) 661-7900
gary.guyton@atlas-lithium.com 
https://www.atlas-lithium.com/ 
@Atlas_Lithium

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294260

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What partners did Atlas Lithium (ATLX) select for the Neves Project on April 27, 2026?

Atlas Lithium named Promon Engenharia, TSX Engineering, Cerne Construções, and RETC Infraestrutura as key partners. According to the company, each firm will handle engineering, project management, EPC and civil works respectively.

What is the Neves Project production guidance reported by Atlas Lithium (ATLX)?

The Neves Project is expected to produce approximately 146,000 tonnes of lithium concentrate per year. According to the company, that figure appears in the DFS as the project production target.

What operating cost did Atlas Lithium (ATLX) disclose for Neves in the DFS?

The DFS estimates an operating cost of $489 per tonne at the mine gate. According to the company, this is the project-level operating cost used for DFS economics.

Were the Neves Project contracts awarded within budget for Atlas Lithium (ATLX)?

Yes. Atlas Lithium says each awarded contract was finalized at or below the budget projections outlined in the DFS. That outcome followed a competitive selection and evaluation process.

Are all implementation scopes for Neves fully contracted by Atlas Lithium (ATLX)?

No; Atlas Lithium is advancing selection of additional operational partners for remaining scopes. According to the company, the technical team aims for 100% readiness in the coming weeks.