Canadian-based Largo Resources said it was granted a permit by a Bahia state environmental regulator to expand its Maracas Menchen vanadium mine in Brazil.
Inema, the Bahia state regulator, granted the license for a two-year period on October 26, Largo Resources said late last week.
Largo said it expects to increase vanadium pentoxide (V2O5) production capacity by 25 percent at the Maracas mine from 800 mt/month currently to 1,000 mt/month. The capacity expansion is expected for June 2019, while Capex was estimated at $15.5 million.
Works to expand the mine commenced in June this year. The June 2019 project completion date already includes the plant’s commissioning phase to produce at increased capacity rates.