Largo reaches new V2O5 production heights in Q3, appoints COO
Date: Oct 4, 2018
Largo Resources Ltd continued to reach new production heights at its Maracas Menchen Mine during the third quarter, with the company achieving record vanadium pentoxide production and record vanadium recovery rates.
The Toronto-based vanadium producer saw total production reach 2,563 tonnes of vanadium pentoxide (V2O5) at the Brazilian mine during the third quarter, setting a new quarterly production benchmark for the company.
Third-quarter output was 6% above nameplate capacity. It represents a 4.27% increase from the 2,458 tonnes of V2O5 produced during the second quarter and a 1.99% increase from 2,513 tonnes produced during the same year-ago period.
Moreover, Largo’s second quarter production represented an 11% increase over the first quarter, when the company produced 2,214 tonnes of V2O5.
“The Maracás Menchen Mine demonstrated another strong operational quarter in Q3 with record production… while also achieving the highest monthly average overall V2O5 recovery rate in the company’s history,” Largo chief executive officer Mark Smith said in a statement.
Overall V2O5 recovery rates averaged 77.1% during the quarter at the mine, down from 79.2% during the previous quarter.
However, Largo achieved a record-high average recovery rate of 82.2% in September.
“With 7,235 tonnes of V2O5 produced so far this year, the company is well positioned to achieve the upper end of its increased and revised 2018 guidance range of 9,150 to 10,150 tonnes of V2O5 produced for the full year,” Smith said.
