For the month of December, Largo Resources Ltd (Largo) has set a new monthly production record at its Maracás Menchen mine. The company produced 903 t of vanadium pentoxide (vanadium or V2O5) in December, surpassing by 15 t the company's previous monthly production record of 888 t set in August 2017. The production in December 2017 was 12.9% above the plant's nameplate capacity and is the result of our operating team's efforts to enhance efficiencies and to continually improve production.
In addition, as a result of strong production throughout 4Q17, Largo has also achieved a new quarterly production record at its Maracás Menchen mine during 4Q17. The company produced 2539 t of V2O5 in 4Q17, surpassing by 26 t the company's previous quarterly production record of 2513 t set in 3Q17. Production in 4Q17 was 5.8% above the plant's nameplate capacity.
The price range for V2O5 sales remained strong in December with the range for the week ended 29 December 2017 being posted at US$9.60/lb to US$9.90/lb (Source: Metal Bulletin).
"I am thrilled with our 2017 operating results and look forward to a very productive 2018,” said Largo's President and CEO, Mark A. Smith. He continued: "Our sustained success, strong production track record and ability to produce vanadium at a low cost have all resulted in Largo's emergence as a key player in the vanadium industry. Largo's position as one of the only pure-play vanadium producers uniquely positions Largo to benefit from the current realities of the vanadium market."
Read the article online at: https://www.globalminingreview.com/exploration-development/05012018/largo-resources-achieves-a-new-monthly-production-record-in-december-2017/