Brazil's Lithium Valley Takes Center Stage in the Global Supply Chain Conversation

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Atlas Lithium Corp. (ATLX:NASDAQ) CEO Marc Fogassa delivered a conference-wide address titled "The Growing Role of Brazilian Critical Minerals in Securing Global Supply" at Benchmark Giga USA 2026, held June 9-10 in Washington, D.C.

According to the company, the presentation focused on how Brazilian lithium production can contribute to global supply chains for materials used in electrification, energy security, and national defense. Benchmark Giga USA is hosted by Benchmark Mineral Intelligence and brings together participants involved in the global critical minerals sector.

"Brazil is a highly important component of the global equation for critical minerals," Fogassa said in a company news release. He added that Atlas Lithium's Neves Project demonstrates how near-surface hard-rock lithium suitable for open-pit mining can contribute a new high-quality supply to the global lithium chain.

Atlas Lithium stated that it controls approximately 557 square kilometers of lithium mineral rights in Brazil's Lithium Valley, which it described as the largest lithium exploration portfolio in the region among publicly listed companies. The company said its flagship Neves Project is advancing toward production and has the key permits in place. Atlas Lithium also noted that a Definitive Feasibility Study for the project indicated a 145% internal rate of return and an 11-month payback period.

The company said its modular lithium processing plant has arrived in Brazil and is ready for assembly at the Neves Project site. Atlas Lithium also highlighted a US$30 million investment from Mitsui & Co., one of the largest conglomerates in the world, and a company that boasts Warren Buffett’s Berkshire Hathaway as its largest shareholder.

In addition to its lithium assets, Atlas Lithium reported that it holds an approximate 20% ownership stake in Atlas Critical Minerals Corporation (NASDAQ: ATCX), providing exposure to projects involving rare earths, graphite, titanium, and uranium.

Lithium Market Conditions Reflect Growing Demand and Supply Response

According to a May 29 report from Mining.com.au, spodumene concentrate prices had recovered significantly from levels seen a year earlier. The publication reported that "a demand surge from rising big battery installations, needed to firm renewables and support the rapid expansion of data center construction due to AI capex," had contributed to the absorption of oversupply that weighed on lithium markets between 2023 and 2025.

The report also noted that supply-side factors had influenced market conditions. Mining.com.au wrote that environmental restrictions in China and export controls in Zimbabwe had "provided shocks on the supply side," while a number of mining companies announced expansions, mine restarts, and new production plans in response to improved pricing conditions.

Benchmark Mineral Intelligence, cited in the report, stated that "a May rally has seen lithium hit US$24,000/t on Benchmark's CIF Asia assessment, and RMB193,000/t EXW China." Benchmark reported that its market balance showed "a deficit equivalent to roughly 3% of the market in 2026" before "a return to modest surplus from 2027 onwards." The firm added that "the question is how quickly the supply response converts into delivered tonnes."

Benchmark also observed that new sources of supply were emerging from a broader range of jurisdictions. According to the report, "frontier supply" was entering the market, with additional lithium projects being developed across several regions outside traditional production centers.

Additional commentary on lithium demand trends emerged in a June 9 interview published by Fastmarkets. Ian Rodger, chief executive officer of US Elemental, told the publication that demand growth continued to outpace development of new supply chains.

"The fundamental demand story has been very, very, very strong," Rodger said. He added that lithium demand was expected to grow "around 20% year on year for decades."

Rodger identified electric vehicles as the largest source of lithium demand, stating that "the biggest single demand driver is electric vehicles globally." He also pointed to growth in energy storage markets, telling Fastmarkets that "very strong battery energy storage demand growth" had offset any weakness in other end markets. According to Rodger, battery storage represented the second-largest driver of global lithium demand.

Fastmarkets reported that supply growth remained challenging because "it's really difficult to bring on large [lithium] projects, particularly when you're looking at increasing the market so substantially [every] year." Rodger said that the balance between supply and demand would depend largely on how much new production could be brought online.

Further insight into battery-related lithium demand was provided in a June 11 market report from IndexBox covering the global lithium difluoro(oxalato)borate additive market. According to the report, the sector was being supported by "the accelerating adoption of high-voltage lithium-ion battery chemistries that require advanced electrolyte formulations."

On June 11, IndexBox stated that "the world Lithium Difluoro(oxalato)borate Additive market is entering a phase of sustained expansion," driven by battery technologies designed to achieve higher energy density and faster charging performance. The report noted that demand was being supported by the "global electrification of transportation and the expansion of stationary energy storage systems."

The study projected that electric vehicle batteries accounted for the largest share of additive demand, representing an estimated 55% of global consumption, while energy storage systems represented approximately 20%. IndexBox wrote that utility-scale energy storage installations required batteries with long cycle life and thermal stability, and that the additive's ability to improve battery performance had made it increasingly important in those applications.

According to IndexBox, demand growth was also being supported by battery manufacturers seeking voltage stability above 4.5 volts, as well as the continued expansion of energy storage systems used for grid balancing and renewable energy integration. The report concluded that demand was becoming increasingly concentrated in Asia-Pacific markets, which it estimated would account for more than 60% of global consumption by 2035.

Source: IndexBox, June 11, "Lithium Difluoro(oxalato)borate Additive Market Forecast Points Higher Toward 2035 on High-Voltage Battery Demand."

Analyst Report Highlights Project Advancement and Operating Metrics

In a March 17 research report, H.C. Wainwright analyst Heiko F. Ihle, CFA, maintained a Buy rating on Atlas Lithium and increased the firm's price target to US$12.50 from US$12.00. According to the report, the higher target reflected continued progress at the Neves Project and the company's projected operating cost structure.

The report identified 2026 as an important year for the company as it advances toward production. 

H.C. Wainwright also reviewed the economics of the Neves Project, highlighting projected operating costs of US$489 per tonne. The report stated that the project benefits from near-surface mineralization, dry-stacking processing, and its location within Brazil's Lithium Valley.

The firm's valuation was based on a discounted cash flow analysis, which generated a current value estimate of US$350.8 million, or US$12.66 per share. H.C. Wainwright rounded that figure to its US$12.50 price target. The report also cited commodity price fluctuations, resource definition, and construction costs at the Neves Project among the principal risks considered in the analysis.