Nasdaq-listed Atlas Lithium Corporation is on track to produce its first commercial batch of lithium oxide concentrate in the fourth quarter of 2027.

The company is developing its 100%-owned Neves project, in Brazil, as a vertically integrated mining and processing industrial complex designed to produce 150 000 t/y of lithium oxide concentrate.

Reflecting the strength of the Neves project, Atlas Lithium says it has received written product interest from multiple companies totalling more than three times its planned production capacity.

Lithium oxide concentrate is used in the global battery supply chain for electric vehicles and energy storage systems.

Once operational, the Neves project will sustain about 5 000 direct and indirect jobs in the  Jequitinhonha Valley, in Minas Gerais State.

A definitive feasibility study on the Neves project finds a 145% internal rate of return and an 11-month payback period, with operating costs of $489/t, against market prices for lithium oxide concentrate of $2 300/t.

Notably, all of the contracts finalised for the project have been at or below budget levels envisioned in the DFS, including with Promon Engenharia for detailed engineering, TSX Engineering for project management, cost control and risk management, Cerne Construções for engineering, procurement and construction, RETC Infraestructura for earthworks and civil construction, and Alfa Engenharia for electromechanical assembly.

"We believe the Neves project ranks among the most capital-efficient lithium developments worldwide and it is clear that lithium buyers have taken notice," says Atlas Lithium CEO and chairperson Mrac Fogassa.

He adds that the company's continued progress on the project reflects disciplined and methodical execution across every front.

Atlas Lithium holds the largest lithium exploration portfolio in Brazil among publicly listed companies - about 557 km² of mineral rights.

Over time, the company plans to expand industrial capacity at the Neves project and develop additional processing facilities across its broader project portfolio, thereby positioning Atlas Lithium to scale production as global lithium demand grows.