US-based mining company Atlas Critical Minerals is preparing to seek an environmental license to expand iron ore extraction at its Rio Piracicaba project in Brazil’s Minas Gerais state, aiming to increase annual output from 300,000 mt to 1.5 million mt, according to local media reports.
Atlas CEO Marc Fogassa stated that the company is currently in the pre-licensing stage for the expansion, though no specific timeline has been disclosed for the filing of the license application.
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 blending before being sold in the domestic and export markets.
Atlas Critical Minerals has been generating revenue from the project since the final quarter of 2025 through sales of raw ore and a share of sales from the final sintering feedstock. The planned expansion is expected to strengthen the company’s cash flow from its iron ore operations in Minas Gerais.
