Atlas Lithium contracts 71% of Neves Project capital budget below estimates

Atlas Lithium Corporation (NASDAQ: ATLX) announced that approximately 71% of the direct capital expenditures for its Neves Project in Brazil are now covered by executed contracts and firm agreements, with contracted costs running about 16% below the corresponding Definitive Feasibility Study budget.

According to the company's press release, the contracted scope includes earthworks and civil construction, electromechanical assembly of a Dense Media Separation plant, a crushing system and spare-parts supply, electrical infrastructure, detailed engineering, construction management, administrative and operational buildings, and in-country logistics. Each contract was awarded through a competitive procurement process.

"Locking in more than 70% of our direct capital budget — and doing so below our feasibility study estimates — reflects disciplined project implementation," said Marc Fogassa, Chairman and CEO of Atlas Lithium.

The company states that the Neves Project is fully permitted and that its processing plant is already located in Brazil awaiting assembly.

The press release also cited data from Albemarle Corporation's second-quarter earnings call held August 6, 2026, which reported that global lithium consumption grew 45% year-over-year through May 2026, and that lithium carbonate inventories across the converter and cathode supply chain stood at under three weeks.

Atlas Lithium also holds an approximately 20% ownership stake in Atlas Critical Minerals Corporation (NASDAQ: ATCX).

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