Maracás Menchen Mine

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Ownership 99.84%
Location Bahia State, Brazil
Size 17,690 ha
Commodity Vanadium
Products V2O5 flake, High purity V2O5 flake & powder
Mining type Open pit
Plant throughput 3,900 tpd
2018 production guidance 9,150-10,150 tpa of V2O5
Off-take 100% - Glencore (2 yrs)
Reserve life 10 years *

Refer to Campbell Pit Reserves and Resources section of website for full NI 43-101 disclosures.

Bahia Image

The Maracás Menchen Mine

The Maracás Menchen Mine property totals 17,690 hectares and is located in the eastern Bahia State of Brazil. The mine is roughly 250 km southwest of Salvador (capital of Bahia) and 813 km northeast of Brasilia (capital of Brazil). The Maracás Menchen Mine 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 Maracás has a population of approximately 25,000.

The Maracás Menchen Mine boasts one of the highest-grade vanadium resources in the world and is one of the lowest cost producers of the material in the vanadium market. Construction at the Maracás Menchen Mine commenced in June 2012 and initial production of vanadium flake commenced in August 2014. Largo has contracted a take-or-pay off-take agreement with Glencore International Plc. for 100% of its vanadium material and has two years remaining in the contract. The mine is projected to produce between 8,950 and 9,950 tonnes of vanadium pentoxide in 2018. The Company announced in April 2018 plans to expand production capacity by 25% at the mine with construction beginning in June 2018. The enhanced production rate at the Maracás Menchen Mine is expected to result in an additional 200 tonnes of V2O5 being produced per month totaling 1,000 tpm from and after June 2019.

Mine Image

Geology, Mining and Processing

Vanadium at the Maracás Menchen Mine is contained within a massive, titaniferous magnetite possesses very low levels of contaminants, like silica (SiO2). 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. These unique features make extracting and processing the vanadium into its final saleable product much easier, significantly lowers the operating costs of production. 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 ~3.2% V2O5. This concentrate is then processed into vanadium pentoxide, high purity vanadium or vanadium powder where it is then bagged or packed into barrels for sale. 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.


The Campbell Pit Mineral Reserves Statement - Effective May 2, 2017

Head Grade
in Con.
Proven 17,570 1.15 3.21
Probable 1,440 1.26 3.20
Total in
pit reserve
19,010 1.15 3.22
  1. Mineral Reserves (Proven and Probable Resources), Mineral Resources, and Inferred Resources for the Maracás Menchen Mine as calculated in: An Updated Mine Plan, Mineral Reserve And Preliminary Economic Assessment Of The Inferred Resources, dated May 2nd, 2017 and filed on SEDAR on May 2nd.
  2. Mineral Resource within a pit shell using US$34.20/t all in operating cost and reported at a 0.45% V2O5 cut-off, reviewed and confirmed by Fabio Valério Xavier (GE21).
  3. The mineral reserves presented above were estimated by Porfírio Cabaleiro Rodriguez of GE21, who is a qualified person under NI 43-101 and a Member of the Australian Institute of Geoscientists. Reserves are reported using a sales price of $6.34/lb of V2O5.

Campbell Pit Resource Statement – Effective May 2, 2017

Category Tonnes(Mt) V2O5 Head Grade (%) V2O5 Contained (kt) V2O5 in Concentrate (%) Magnetics(%)
Measured Resources 18.08 1.19 215.0 3.19 30.55
Indicated Resources 1.70 1.28 21.7 3.12 34.64
Measured and Indicated Resources 19.78 1.20 236.7 3.19 30.90
Inferred Resources 1.65 1.20 19.8 3.10 33.08
  1. Resource within a pit shell using US$34.20/t all in operating cost and reported at a 0.45% V2O5 cut-off, reviewed and confirmed by Fabio Valério Xavier (GE21).
  2. The % magnetics number refers to the percent of magnetic minerals contained in the mineralized rock. It is used to help determine what portion of the mineralization in the mineral resources contains magnetite of sufficient vanadium content to be processed through the magnetic separators and concentrated, and, therefore, can be determined to be a mineral reserve.
  3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

2018 Annual production guidance


9,150 - 10,150 tonnes

20.2 - 22.4 million pounds

2018 Annual average cost guidance

$US/lb V205


$CAD/lb V205


Note: Constitutes forward-looking information. See “Cautionary Note Regarding Forward-Looking Statements” within the disclaimer section of the website.