Atlas’ Malacacheta emerges as South America’s largest graphite project
Brazil hosts several producing graphite mines and is South America’s top producer of the mineral vital for lithium-ion batteries.
Atlas Critical Minerals has unveiled its Malacacheta graphite project in Brazil, positioning it as South America's largest known graphite resource. The resource estimate reveals 17.2 million indicated tonnes grading 5.73% graphitic carbon (Cg), equating to about 986,000 tonnes of contained graphite. This grade surpasses the Graphite Creek project in Alaska, the largest graphite resource in the United States.
Atlas also reported 7 million inferred tonnes at 5.4% Cg for roughly 378,000 tonnes graphite. CEO Marc Fogassa lauded the resource as a crucial milestone for his company and for graphite supply in the Americas, noting that only 2.5 kilometers have been drilled out of an 11-kilometer corridor on one of the three contiguous tenements.
The discovery enhances Brazil's standing as a major graphite producer and source of critical minerals in South America, complementing its existing deposits of niobium, rare earths, and lithium. Brazil is the world's fourth-largest producer of graphite, generating 65,000 tonnes last year. Atlas' shares surged 1% to $2.98 apiece following the announcement, valuing the company at $15.1 million.
The project is situated in Minas Gerais state, 580 km northeast of Rio de Janeiro. Comparatively, the Santa Cruz mine in Bahia state boasts 14.9 million measured and indicated tonnes grading 2.29% Cg, with 341,240 tonnes of contained graphite.
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