London, September 14th (Argus) - Canadian metal producer Largo announced that it has completed the sale of the first batch of copper-palladium group metals (PGM) concentrate; at the same time, it is preparing to deliver the first batch of high-purity vanadium pentoxide under the contract with the US Defense Logistics Agency (DLA) at the end of this month, marking two major milestone achievements in the company's commercial business expansion.
Largo has completed the sale of the first batch of copper-palladium group metals concentrate produced by the Maracas Menchen mine in Brazil. The first batch of goods will be delivered to two traders and one European smelter, and is expected to generate approximately $4.7 million in cash income by September. Currently, the demand for steel in the Eurasian region remains sluggish, and this move opens up new revenue sources for Largo beyond the vanadium business.
The company maintains its original guidance for copper-palladium group metal concentrate production: 300–380 tons per month, with an average grade of approximately 15% copper and 41 grams per ton of palladium group metals.
In addition, the first batch of high-purity vanadium pentoxide under the five-year supply contract with the US Defense Logistics Agency is planned to be delivered to US ports in late September.
Largo expects that the proportion of high-purity vanadium products in total sales will be higher in 2022 than in 2026; the vanadium production this year is likely to be around the lower limit of its production guidance range of 10,500–12,000 tons. The company stated that the contract negotiations for 2026 were affected by the import tariffs imposed on Brazil in the second half of 2025.
