Primary vanadium producer Largo reports higher Q1 output, plans to supply base metals, PGMs
TSX- and Nasdaq-listed vanadium and ilmenite producer Largo has achieved a 101% year-on-year increase in vanadium pentoxide ( V2O5) production to 2 616 t in the first quarter of the year.
This compares to 1 297 t of V2O5 produced in the first quarter of last year.
Total ore mined increased by 90% year-on-year to 852 046 t, while the effective ore grade was also higher at 0.48%, compared with 0.41% in the prior corresponding quarter.
Largo’s first-quarter sales totalled 2 141 t of V2O5-equivalent, which increased by 3.6% year-on-year.
In turn, ilmenite concentrate production also increased by 86% year-on-year to 11 514 t in the quarter under review, compared with 6 162 t of ilmenite having been produced in the same quarter last year.
Sales of ilmenite concentrate increased by 32% year-on-year to 11 477 t in the reporting quarter.
Meanwhile, Largo has filed a request with the Brazilian Mining Agency to produce and sell copper, platinum group metals (PGMs), nickel and cobalt as by-products within its existing mining activities at the Maracás Menchen mine, using its existing ore processing infrastructure.
Largo’s byproduct testwork, which is verified by an external, certified laboratory, has revealed grades of 16.6% copper, 13.4 g/t gold, 22.5 g/t platinum, 22.4 g/t palladium, 69 g/t silver, 0.8% nickel, 0.8% cobalt and 0.1 g/t rhodium.
This data is the average of the second period of four days of continuous industrial-scale testing using current mine feed from Maracás Menchen.
Moreover, Largo advises of corporate changes including Luis Rendón having been appointed as sole COO and Luânder Peixoto having been promoted to serve as group general counsel.
