About the Maracás Menchen Mine
The Maracás Menchen Mine, located in Bahia State, Brazil, is home to one of the world’s highest-grade vanadium resources and spans 48,954 hectares. With excellent access to infrastructure, the mine is roughly 250 km southwest of Salvador and 813 km northeast of Brasília, offering streamlined logistics for mining and processing operations. As one of the lowest-cost primary producer of vanadium and a growing producer of ilmenite, we leverage our world-class asset to deliver premium products to global markets.
At Largo, vertical integration drives our success. By maintaining full control of the value chain—from mining and processing at the Maracás Menchen Mine to global sales and distribution—we ensure exceptional quality and reliability for our customers. In addition to vanadium, the mine produces ilmenite, a titanium-iron oxide critical for pigments and other industrial applications, further diversifying Largo’s revenue streams. These operations support our mission to deliver premium products to critical industries while contributing to a better future through our high-grade vanadium solutions.
Highlighted figures (2024)
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V2O5 eq. produced
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V2O5 eq. sold
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First production
The Maracás Menchen Mine
| Ownership | 99.94% |
| 2025 V2O5 production guidance | 9,500 – 11,500 tonnes |
| Location | Bahia State, Brazil |
| 2025 cash operating cost guidance | US$4.50 – 5.50/lb V2O5 |
| Commodities | Vanadium Titanium |
| 2025 V2O5 sales guidance | 7,500 – 9,500 tonnes |
| Mining type | Open pit |
| Mine life | 31 years* |
| Products |
|
| Number of employees | 494 |
| Ownership | 99.94% |
| Location | Bahia State, Brazil |
| Commodities | Vanadium Titanium |
| Mining type | Open pit |
| Products |
|
| Number of employees | 494 |
| 2025 V2O5 production guidance | 9,500-11,500 tonnes |
| 2025 V2O5 sales guidance | 7,500-9,500 tonnes |
| 2025 cash operating cost guidance | US$4.50 – 5.50/lb V2O5 |
| Mine life | 31 years* |
*Technical information contained in NI 43-101 technical report titled “An Updated Life of Mine Plan (LOMP) for Gulçari A (Campbell Pit) and Pre-Feasibility Study for Gulçari A Norte (GAN), Novo Amparo (NAO), Novo Amparo Norte (NAN) and São José (SJO) Deposits–Maracás Menchen Project, Bahia State, Brazil” dated October 30, 2024, with an effective date of January 30, 2024.
Maracás Menchen Project Reserve and Resource Estimates
Extracting additional value from the Maracás Menchen Mine
Ilmenite Concentration Plant
The Company continues to refine its processes to improve efficiency and throughput, with further optimization efforts underway as operations stabilize and quality enhancements take effect. Aiming to enhance the value at its Maracás Menchen Mine, Largo completed construction of its ilmenite concentration plant in 2023, which uses feedstock sourced from its vanadium existing operations.
Largo plans to produce between 25,000 and 35,000 tonnes and sell between 20,000 and 30,000 tonnes of ilmenite concentrate, respectively, in 2025.
Maracás Menchen Project – Non-Magnetic Reserve and Resource Estimates in Ponds
