Cash Cost

US$3.10 - 3.30/lb V2O5

Annual cash cost excluding royalties guidance for 2021
Mining

11,400 - 11,800 tonnes

Annual V2O5 production guidance for 2021
Security

11,200 - 11,800 tonnes

Annual V2O5 sales guidance for 2021

The Maracás Menchen Mine

Ownership
99.94%
Location
Bahia State, Brazil
Commodity
Vanadium
Mining type
Open pit
Products
VPURE™ Flake, VPURE+™ Flake, VPURE+™ Powder
Number of employees
379
2021 V2O5 production guidance
11,400 – 11,800 tonnes
2021 cash operating cost guidance (excluding royalties)
US$3.10 – 3.30/lb V2O5
2021 V2O5 sales guidance
11,200 – 11,800 tonnes
Map Pin Maracas Map

About the Operation

The Maracás Menchen Mine boasts one of the highest-grade vanadium resources in the world and Largo Resources is one of the lowest-cost primary producers of vanadium in the world. The Maracás Menchen Mine property totals 17,690 hectares and is located in the eastern Bahia State of Brazil. The mine is roughly 250 km southwest of Salvador (capital of Bahia) and 813 km northeast of Brasilia (capital of Brazil). The Maracás Menchen Mine has excellent access by road from Salvador to the mine via 405 km of paved secondary road from the main costal highway in Bahia and via a direct project access road of about 50 km west of the town of Maracas.

The mine is projected to produce between 11,400 and 11,800 tonnes of V2O5 in 2021. The Company’s current product offering consists of VPURETM Flake (standard grade V2O5) and VPURE+TM Flake (high purity V2O5) and VPURE+TM Powder (high purity V2O5 powder). The Company internally handles the sales and trading of its material with a focus on the high purity vanadium market which offers price premiums.

About the Operation

Vanadium AdditionsVanadium Trioxide Product Addition

The Company is also planning the construction of a vanadium trioxide (V2O3) processing plant at the Maracás Menchen Mine, which is expected to increase sales in the high purity aerospace market, chemical industry and vanadium electrolyte used for vanadium redox flow batteries. The Company construction of the V2O3 plant to began in Q1 2021 and the subsequent ramp up and commissioning of the plant is expected to conclude in Q4 2021.

Maracás Menchen Mine Reserves and Resources

Pond Reserves and Resources

Exploration

The Company’s land package in Brazil totals approximately 17,000 ha and offers extensive regional growth opportunity. The Company has developed an Exploration Master Plan for 2019 to 2021 to advance known deposits, increase resources and reserves, further evaluate the potential for along strike continuation of the vanadium rich magnetite mineralization and to maintain the Company’s mineral concessions to the north and south of the Campbell deposit.