Atlas Lithium’s Neves project selected for potential funding under US-Japan partnership

Staff Writer | April 2, 2026 | 8:07 am Battery Metals Critical Minerals Latin America USA Lithium

In 2024, Atlas Lithium received the operational permit for its main Neves project in Brazil’s Minas Gerais state. Credit: Atlas Lithium

Atlas Lithium’s (NASDAQ: ATLX) flagship Neves project in Brazil has been included as part of the recently signed Japan-US critical minerals cooperation agreement, the company announced on Thursday.

In a statement, the Florida-based company said its project was named in the joint fact sheet submitted by the governments for funding consideration, and is the only Brazil-based lithium asset to be included in the list.

The fact sheet follows the US-Japan Critical Minerals Investment Ministerial held last month in Tokyo, which was attended by various American agencies, and the summit held between Japan’s Prime Minister Sanae Takaichi and US President Donald Trump.

Shares of Atlas Lithium rose nearly 4% on the update, giving the company a market capitalization of $123.6 million.

Strategic lithium asset

The joint fact sheet lists projects that can potentially contribute towards strengthening the critical minerals supply chain, including the Neves project, Atlas said in its statement.

The company also noted it has an existing strategic partnership with Mitsui & Co. from 2024, when the Japanese group made a $30 million strategic investment and entered into an offtake agreement for future production from the site. Later that year, Atlas received its operating permit in Brazil.

Now in the pre-production stage, the Neves project involves the processing of ore from the Neves deposit in a dense media separation plant to produce lithium concentrates. Once operational, it is expected to produce 300,000 tonnes annually.

According to a definitive feasibility study completed last year, the Neves project could deliver an after-tax internal rate of return of 145% and a net present value of $539 million, with an 11-month payback.

“The inclusion of the Neves project in the Japan-US critical minerals joint fact sheet, with both the US and Japanese governments considering financial support for our project, is a powerful recognition of the strategic value of our assets and the progress that our team has achieved,” said Marc Fogassa, CEO and chairman of Atlas Lithium.