Atlas Critical Minerals plans major expansion of iron ore mining in Minas Gerais

The American mining company Atlas Critical Minerals is preparing to obtain an environmental license to expand iron ore production at its Rio Piracicaba project in the Brazilian state of Minas Gerais in order to increase annual production from 300,000 tons to 1.5 million tons, according to local media reports.

Atlas CEO Mark Fogassa stated that the company is currently in the pre-licensing stage for expansion. The specific dates for submitting the license application were not disclosed.

At a later stage, the company also plans to evaluate the possible installation of an iron ore processing plant at the Rio Piracicaba project. Currently, the extracted ore is sent to a third-party facility for mixing before being sold on the domestic and export markets.

Atlas Critical Minerals has been generating revenue from the project since the last quarter of 2025 through the sale of crude ore and a share of sales of final raw materials for the agglomeration. The planned expansion is expected to strengthen the company's cash flow from its iron ore operations in Minas Gerais.