Largo Resources posts decreased vanadium output in Q1

Tuesday, 20 April 2021 19:10:22 (GMT+3)   |   Sao Paulo

Toronto-based vanadium producer Largo Resources said vanadium output in Q1 fell 30 percent, year-over-year, to 1,986 mt.

The company attributed the decreased output to a planned shutdown of activities for maintenance and equipment upgrade. Largo said it expects vanadium sales in Q2 this year to be positively impacted by increased inventory during Q1, which rose due to the planned shutdown.

Largo also said vanadium sales in Q1 this year declined 12.2 percent, year-over-year, to 2,783 mt.

Vanadium is used as an additive for steel. It is used to produce rust resistant, as well as high-speed tool steels.

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