In The Second Quarter, Both The Production And Sales Volume Of Vanadium Dioxide Increased Significantly.

Houston, July 24th (Argus) - Canadian metal producer Largo saw its V₂O₅ output increase by 28.5% year-on-year in the second quarter, and its sales volume rise by 53.4%.
Thanks to the improvement in production and operation at the Maracás Menchen mine in Brazil, Largo's V₂O₅ output in the second quarter reached 2,900 tons, close to the upper limit of 3,000 tons it previously set for the second quarter.
The company's V₂O₅ sales volume in the current quarter increased to 2,773 tons, a significant 53.4% increase year-on-year.
Largo stated that the V₂O₅ imported from Brazil is not subject to the 25% tariff imposed by the US Section 301. The company will assess the impact of the latest US tariffs on Canadian products and the potential impact of these tariffs on US imports of vanadium iron from Canada.
The total mining volume of the mine in the second quarter was 712,198 tons, an increase of 46.6% year-on-year.
Largo plans to optimize production to match the procurement needs of the US Defense Logistics Agency for high-purity V₂O₅; the company has received a fixed-price five-year supply contract worth 60.1 million US dollars.
The company's V₂O₅ concentrate production in the second quarter was 7,205 tons, a 11.6% decrease year-on-year; during the same period, the sales volume of V₂O₅ concentrate was 10,059 tons, an increase of 67%.