São Paulo, April 2 (Argus) - According to a joint situation statement from Japan, the US and Japanese governments are considering providing funds for Atlas Lithium's Neves lithium spodumene project in Brazil.
The Japanese Mitsui Company holds a $30 million equity stake in the project - along with a purchase agreement - and the US has long been seeking greater access to Brazil's key minerals.
Neves is the only potential financing Brazilian lithium project on the list. The list also includes the Aclara Resources rare earth project in Brazil by Canadian company.
The US has provided $5 million in funding for the development of this rare earth project and expects "additional equity investment in the construction phase as the project progresses".
This briefing was released after the US-Japan Key Minerals Ministers' Meeting held in Tokyo on March 14.
Atlas is an exploration company based in Florida, with its assets (including graphite) located in Brazil. Atlas owns the Neves project outright, which is the most advanced lithium exploration project owned by an American company in Brazil. Neves is in the late development stage and is about to enter the construction phase.
