Atlantic Nickel
Atlantic Nickel is a Brazilian mining company operating the Santa Rita mine, one of the world's largest open-pit sulfide nickel mines, producing nickel-copper-cobalt concentrate for EV battery and defense customers. It is owned by Appian Capital Advisory and backed by the IFC.
- Company typePrivate
- Founded2019
- HeadquartersItagibá, Brazil
- Headcount501–1,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Atlantic Nickel does
Atlantic Nickel is a Brazilian mining company that operates the Santa Rita mine in Itagibá, Bahia — one of the world's largest open-pit sulfide nickel mines, with a stated mine life exceeding 30 years. The company is engaged in the full value chain of sulfide nickel: exploration, mining (both open-pit and, more recently, underground under Portaria 33.278/2025), processing, and commercialization. The principal product is nickel concentrate, with copper and cobalt recovered as co-products for use in electric vehicle batteries and defense applications.
The operation is vertically integrated around a single asset. The company reports a closed-loop water circuit recycling approximately 90% of process water, an environmental protection area of 542 hectares in the Atlantic Forest biome, and compliance with the GHG Protocol (Scope 1: 5,884 tCO2; Scope 2: 3,862 tCO2; Scope 3: 594 tCO2). It holds a full suite of Brazilian operating, water, and dewatering permits, and was recognized at the 2026 28th Prêmio Excelência Minero-metalúrgica for innovation in production, safety, sustainability, and digital transformation.
Atlantic Nickel is a privately held portfolio company of Appian Capital Advisory (which sits within Appian's Basic Metals Division led by former Hochschild Mining CEO Ignacio Bustamante) and is anchored as the first investment of a US$1 billion critical minerals fund launched in October 2025 in partnership with the IFC, a member of the World Bank Group. Revenue is generated through direct B2B sales of nickel-copper-cobalt concentrate to industrial offtake customers under long-term supply agreements and spot sales, with primary end-markets in EV battery manufacturing and defense. Pricing is not publicly disclosed, and a potential public listing via SPAC merger has been reported.
Atlantic Nickel firmographics
Firmographics- Name
- Atlantic Nickel
- Legal name
- Atlantic Nickel
- Website
- https://atlanticnickel.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Atlantic Nickel is a Brazilian mining company operating the Santa Rita mine, one of the world's largest open-pit sulfide nickel mines, producing nickel-copper-cobalt concentrate for EV battery and defense customers. It is owned by Appian Capital Advisory and backed by the IFC.
- Ownership category
- akta.pro rank
Atlantic Nickel industry classification
Industry- Product category
- Base Metals Mining
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Copper, Nickel, Lead, and Zinc Mining (21223)
- SIC
- Metal Mining (1000)
- akta.pro primary industry
- Nickel Mining & Concentrates (IMAKAFAB)
- akta.pro secondary industries
- Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite) (EUAFABAA), Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM)
Keywords
Where Atlantic Nickel is headquartered
LocationHeadquarters
- HQ city
- Itagibá
- HQ country
- Brazil
- HQ region
- Latin America
Offices2 records
Markets served
Atlantic Nickel business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Nickel Concentrate Sales: Atlantic Nickel generates revenue through the extraction, processing, and sale of nickel sulfide concentrate. The Santa Rita mine also produces copper and cobalt as co-products, all sold to industrial customers in the EV battery and defense supply chains.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Atlantic Nickel product offering
Product offeringCore offering
Atlantic Nickel operates the Santa Rita mine, one of the world's largest open-pit sulfide nickel mines, located in Itagibá, Bahia, Brazil. The company engages in exploration, mining, processing, and commercialization of nickel concentrate, with copper and cobalt produced as co-products primarily for electric vehicle battery manufacturers and defense sector buyers. The mine operates both open-pit and underground methods with a potential mine life exceeding 30 years.
Product overview
Atlantic Nickel operates as a mining company focused on the Santa Rita nickel sulfide mine in Bahia, Brazil. The company offers a single unified operation producing nickel concentrate (with copper and cobalt by-products), operating both open-pit and underground mining methods. The Santa Rita mine is a significant source of nickel for electric vehicle batteries and clean energy technologies.
Differentiator
Problem solved
Functional benefit
Products and services
- Santa Rita Nickel Mine (Open Pit) Atlantic Nickel operates the Santa Rita open-pit sulfide nickel mine, one of the largest in the world, located in Itagibá, Bahia, Brazil. The operation produces nickel concentrate for sale to industrial offtake customers, including electric vehicle battery manufacturers and defense sector buyers, with copper and cobalt as co-products.
- Santa Rita Underground Mine Underground mining operations at the Santa Rita mine site, authorized in 2025 under Portaria 33.278/2025, supplementing the open-pit operations to extend the productive life of the Santa Rita nickel-copper-cobalt deposit.
- Nickel Concentrate (with Copper and Cobalt Co-Products) The primary commercial product of Atlantic Nickel: nickel sulfide concentrate extracted and processed at the Santa Rita mine, sold under negotiated offtake agreements and spot sales to global industrial buyers in the EV battery and defense sectors, with copper and cobalt produced as co-products.
Companies that use Atlantic Nickel
Customer profileSegments2 records
Ideal customer profiles2 records
Atlantic Nickel technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Atlantic Nickel partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
Atlantic Nickel competitors and assessment
Company assessmentBroad incumbents
- Vale S.A. Brazilian diversified mining major and one of the world's largest nickel producers (Sudbury, Voisey's Bay, Onça Puma). Direct geographic peer operating in Brazil and overlapping product mix (nickel, copper, cobalt) for EV battery supply chains.
- Anglo American: Global diversified miner with nickel exposure (Codemin/Niquelândia in Brazil, Barro Alto). Operates a Brazilian nickel laterite business directly comparable to Atlantic Nickel's geography and end-market exposure.
- BHP Group: Operates Nickel West (Western Australia), a sulfide nickel concentrate and downstream operation supplying the EV battery market. Closest major in sulfide-nickel product mix and end-market strategy.
- Glencore: One of the world's largest nickel producers and traders (Koniambo, Murrin Murrin, INO), with a downstream trading arm that buys concentrates. Comparable in product (Ni-Co concentrate) and in supplying EV battery and stainless steel markets.
Direct peers
- ERAMET: French mining group producing nickel from laterite (New Caledonia — SLN) and is developing a large Indonesian HPAL project with BASF. Closely comparable mid-cap, single-commodity-focused nickel producer supplying stainless steel and EV battery markets.
- South32: Operates Cerro Matoso, a large open-pit laterite nickel mine in Colombia, producing ferronickel for stainless steel. Closely comparable single-asset, mid-cap nickel producer with similar concentrate-to-metal economics and ESG-driven offtake strategies.
- Sherritt International: Canadian mid-tier producer of finished nickel and cobalt from laterite (Moa JV, Cuba) and oil & gas. Comparable mid-cap, vertically integrated nickel-cobalt producer selling into the EV battery supply chain.
Emerging players
- Horizonte Minerals: Brazilian-focused nickel developer with the Araguaia and Vermelho ferronickel projects in Pará. Comparable in Brazilian-jurisdiction, nickel-focused strategy and in targeting EV battery end-markets, though at a pre-production stage.
Regional players
- Nickel Asia Corporation: Philippines-listed producer of laterite nickel ore (Rio Tuba, Taganito, Cagdianao, Dinapigue) for export to Japanese and Chinese processing. Comparable laterite/ore-based nickel producer serving Asian stainless steel and battery supply chains, but in a different geography.
- PT Vale Indonesia: Indonesian subsidiary operating laterite nickel mines (Sorowako) and the Pomalaa HPAL project. Comparable as a single-commodity, large-scale nickel producer targeting EV battery markets, but in the dominant low-cost Indonesian laterite/HPAL region.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Atlantic Nickel social profiles
Digital presenceAtlantic Nickel compliance and trust
Trust signalCompliance6 records
Atlantic Nickel financial estimates
Financial estimateRevenue estimate
Valuation estimate
Atlantic Nickel leadership team
Management profileNumber of profiles
Profiles13 records
Atlantic Nickel funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Atlantic Nickel M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Atlantic Nickel
What does Atlantic Nickel do?
Atlantic Nickel operates the Santa Rita mine, one of the world's largest open-pit sulfide nickel mines, located in Itagibá, Bahia, Brazil. The company engages in exploration, mining, processing, and commercialization of nickel concentrate, with copper and cobalt produced as co-products primarily for electric vehicle battery manufacturers and defense sector buyers. The mine operates both open-pit and underground methods with a potential mine life exceeding 30 years.
Is Atlantic Nickel a public or private company?
Atlantic Nickel is a private company. It is classified as private equity controlled and is currently operating.
When was Atlantic Nickel founded?
Atlantic Nickel was founded in 2019. It employs 501 to 1,000 people.
Where is Atlantic Nickel based?
Atlantic Nickel is headquartered in Itagibá, Brazil, in the Latin America region.
How does Atlantic Nickel make money?
One revenue line is on record: nickel Concentrate Sales.
Who are Atlantic Nickel's main competitors?
Broad incumbents on record are Vale S.A., Anglo American, BHP Group and Glencore. Direct peers are ERAMET, South32 and Sherritt International. Horizonte Minerals is listed as an emerging player. Regional players are Nickel Asia Corporation and PT Vale Indonesia.
Does Atlantic Nickel have an API?
No public API is recorded for Atlantic Nickel.
What industry is Atlantic Nickel in?
Atlantic Nickel's product category is Base Metals Mining. Its primary akta.pro industry code is IMAKAFAB, Nickel Mining & Concentrates, with a secondary code of EUAFABAA, Battery Raw Materials Mining & Refining (Lithium, Nickel, Cobalt, Manganese, Graphite). Its NAICS code is 212230 and its SIC code is 1000.