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Largo Resources reports Brazil flagship is 99.8% complete

Maracás, Brazil.

Maracás, Brazil.

Photo by Largo Resources

11th April 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – TSX-V-listed Largo Resources announced that the Maracás vanadium project, in Bahia, Brazil, is 99.8% complete and only auxiliary items still need to be installed.

The Toronto-based firm, which also has a portfolio of other projects in Brazil and Canada, said that first vanadium production would get under way as soon as all equipment had been commissioned and the kiln had been warmed up.

It said that all systems at the project were now either commissioned or in the final stages of commissioning. The company had earlier expected first production to start in the first quarter.

Meanwhile, Largo announced that it had appointed Casper Groenewald as deputy technical director of operations for Brazil.

Groenewald is a metallurgical engineer with more than 20 years experience in operating and managing mining facilities across a range of commodities. His background includes more than five years direct experience in operating vanadium processing facilities in South Africa, including Xstrata's Vantech operation and Highveld Steel and Vanadium.

Groenewald also has extensive experience in the production and processing of platinum, steel and iron and has successfully commissioned and optimised several processing facilities.

He most recently served as VP of operations for DRA America, a mining engineering, project management and contract operations company where he was responsible for strategic planning, operational development and business development.

“We are extremely pleased to welcome Casper to the Largo team. We are particularly excited to add further vanadium expertise to the operations team and, likewise, believe that his past experience in both platinum and iron-ore will prove to be valuable assets as we move forward,” Largo senior VP and technical director of Brazilian operations and a prominent vanadium expert Les Ford said.

"Having worked with Groenewald at vanadium operations before, I believe that he is an extremely valuable addition to our operational team at the project. His added vanadium experience, as we are currently transitioning into production, will certainly enhance our capability to ramp up effectively and achieve stable operations at the plant,” Ford said.

Consulting engineering firm RungePincockMinarco, in their 2013 preliminary economic assessment of the Maracas project, indicated that the economic treatment pointed to a net present value of $554-million at an 8% discount rate, with an after-tax internal rate of return of 26.3%.

Maracás has a National Instrument 43-101-compliant proven and probable reserve of 12.1-million tonnes grading 1.34% vanadium oxide, while the measured and indicated resources total 24.6-million tonnes grading 1.11% vanadium oxide. The project has 30.4-million tonnes grading 0.83% vanadium oxide in the inferred category.

Edited by Creamer Media Reporter

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