TORONTO (miningweekly.com) – TSX-listed Largo Resources has hit a new production record at its flagship Maracás Menchen vanadium mine, in Bahia, Brazil, topping the previous monthly record by 3%.
The Toronto-headquartered company stated Tuesday that during June it had produced 801 t of vanadium pentoxide, compared with the previous monthly output record of 780 t set this May.
“The Maracás Menchen mine is consistently showing its operational excellence with its ability to produce at and above nameplate capacity. I believe all of the stars are now aligning for Largo,” president and CEO Mark Smith stated.
The production records at Maracás Menchen brought the operation closer to achieving nameplate capacity. The project was expected to produce on average 11 400 t/y of vanadium equivalent over a 29-year mine life.
The company’s stock listing had on Monday graduated to the TSX main board.
On Wednesday morning, the stock traded up 4.44% at C$0.47 a share, having gained nearly 70% since the start of the year.