Maracás

Flagship Maracás Menchen Mine

Summary

Location: Bahia State, Brazil
Size: 28,587ha
Deposit: Massive Magnetite
Product: Vanadium
Stage: Producing
Initial capacity: 9,600 tpy V2O5
Ownership: 100%
Off-take: 100% - Glencore

Overview

The Maracás Menchen Mine in Bahia, Brazil boasts the highest grade vanadium resource in the world and is positioned to be the lowest cost producer in the vanadium market. 

Initial construction at the Maracás Menchen Mine commenced in June 2012 and production commenced in August 2014. Production is now underway with the Company effectively achieving nameplate capacity in June, 2016. 

Largo has contracted a take-or-pay off-take agreement with Glencore International Plc. for 100% of its vanadium material for 6 years.

Financing for the Maracás Menchen Mine Received
Metals and Mining Deal of the Year, 2012

The Maracás Menchen Mine property totals 28,587 hectares and is located in the eastern Bahia State of Brazil. The Project is roughly 250 km southwest of Salvador (capital of Bahia) and 813 km northeast of Brasilia (capital of Brazil).

It has excellent access by road from Salvador to the Maracás Menchen Mine of 405 km via a paved secondary road from the main costal highway in Bahia, with a direct Project access road about 50 km west of the town of Maracas. The town of Maracas has a population of approximately 25,000.

The entire strike length of the Maracás Menchen Mine property is rich in vanadium, hosting many deposits of Vanadium-rich titaniferous magnetite mineralization particularly at the Campbell Pitt and other smaller deposits such as Gulcari B, Nova Amparo and Sao Jose.

Average annual production is estimated at 9,600 tonnes of V2O5 equivalent. There remains tremendous potential for the expansion of resources and production rates.


Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43 101 has reviewed and approved this information

Production Summary



The Company began initial construction activities at the Maracás Menchen Mine in June of 2012 and all systems and first production commenced in August 2014.

Production at the Maracás Menchen Mine commenced on August 2, 2014. The Company has achieve consecutive record production volumes in 2016 producing 730, 780 and 801 tonnes respectively.

Brief summary of Items key milestones:

  • First Production - Aug 2014
  • CAPEX completed within 2% of Budget - May 2014
  • Feed to Kiln - May 2014
  • Kiln commissioning - March 2014
  • Deammoniator commissioning - Mar 2014
  • AMV precipitation commissioning - Mar 2014
  • Leaching commissioning - Feb 2014
  • Milling and beneficiation commissioning - Feb 2014
  • Approx 20,000 tonne stockpile of crushed ore accumulated - Feb 2014
  • Crushing commissioned - Oct 2013
  • Electrical power line commissioned - Oct 203
  • Water treatment plant commissioned - Oct 2013 

See our latest press releases for updates regarding recent production records - and sign up to our mailing list (bottom page) to receive photo updates.

Deposit Characteristics

The Maracás Menchen Mine is exceptionally high grade and high quality ore body. The vanadium is contained within a massive, titaniferous magnetite that has much higher grades in both V2O5 and iron content than any other vanadium project in the world. Further, and equally importantly, it has very low levels of contaminants, like silica (SiO2).

These unique features make extracting and processing the vanadium into its final saleable product much easier, significantly lowers the operating costs of production, and allows Largo to produce a substantially superior concentrate than other producers. 

The cumulative benefits from the grade and quality of the ore and concentrate are so significant that Maracás will have a major cost advantage over worldwide producers.

Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43 101 has reviewed and approved this information

Production Process and Profile

The Maracás Menchen Mine will utilize a simple, cost effective, open-pit mining process.

Ore from the mine will be crushed, milled, and sent through a magnetic separator to create a concentrate. The resulting concentrate is exceptionally high at 3.4% V2O5. This concentrate will then be processed into vanadium pentoxide using the below outlined method.

It is important to note that Largo is utilizing industry proven equipment and processes to produce vanadium – there are no new technologies or processes being utilized at The Ford Facility.


Mr. Robert Campbell, Vice President of Exploration at Largo, and a Qualified Person as defined by NI 43-101 has reviewed and approved this technical information

Mineral Resources

Largo completed a Definitive Feasibility Study on the  titled: Mineral Reserves (Proven and Probable Resources), Mineral Resources, and Inferred Resources for the Maracás Menchen Mine as calculated in: An Updated Mine Plan and Mineral Reserve for the Maracás Menchen Project, Bahia State, Brazil, dated July 8, 2016 and filed on SEDAR on July 8, 2016. Mineral Resource and Mineral Reserve Effective Date: March 31, 2016.

Below are details of the mineral resources for the Maracás Menchen Mine:

Mineral Resources*
Mineral Reserve: 18.4 million tonnes @ 1.17% V2O5 (P&P)
Mineral Resource: 21.1 million tonnes @ 1.24% V2O5 (M&I)
29.5 million tonnes @ 0.85% V2O5 (Inferred)

Mr. Robert Campbell, Vice President of Exploration to Largo, and a Qualified Person as defined by NI 43 101 has reviewed and approved this information

*Resource Estimates that are not Mineral Reserves do not have demonstrable economic viability.

 

Key Highlights

  • Highest grade vanadium project in the world
  • 100% owned
  • Production underway 
  • Record monthly production of 801 tonnes in June, 2016  
  • Avg. annual prod. 9,600 tonnes V2O5 equivalent
  • Off take agreement  in place with Glencore International for 100% of material for six years

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