Largo delays FeV plant construction due to Covid-19; expects high-purity V2O5 sales to fall in 2020

Vanadium producer Largo Resources has postponed construction of its ferro-vanadium conversion plant at its Maracas Menchen mine in Brazil due to Covid-19 preventative measures, the company said in its first-quarter earnings release on Tuesday May 12.

“The company is continuing to monitor the rapidly developing impacts of the Covid-19 pandemic and will take all possible actions to help minimize the impact on the company and its people,” Largo said.
“The company is evaluating the timing for the construction of the ferro-vanadium conversion plant, including the deferral of planned 2020 capital expenditures due to precautionary measures associated with our employees and contractors in light of Covid-19," Largo president and chief executive officer Paulo Misk said in the release.

For the time being, there have been no interruptions to the company’s operations or with the shipment of material from the mine, Largo said, noting that it continues to maintain its production, sales and cost...

Published

Ewa Manthey

May 14, 2020

20:08 GMT

London