NEW YORK Largo Resources
Ltd. has expanded its ferrovanadium production forecast for its
Maracás project in Bahia, Brazil.
The Maracas Mine is now targeted
to produce 4,899 tonnes of ferrovanadium annually, as
determined in a feasibility study from RungePincockMinarco,
which also more than doubles the projects net present
value to $554 million.
"The mine life is also increased
to 29 years from the 15 years previously set out in the
feasibility study," the Toronto-based company said. "These
changes result in an increase to $554 million vs. $274 million
in net present value."
Ferrovanadium production is projected to begin in the fourth
quarter of 2016, with an offtake deal with Switzerlands
Glencore International Plc in place for all vanadium products
for the first six years.