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Brazil
Maracas Menchen Mine (Maracas Menchen Expansion Project)

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 Location:
39 km SW from Maracas, Brazil

  Regional Office:
Rua Alceu Amoroso Lima, 440 Caminho das Arvores
Salvador
Brazil
BA 41820-770
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Vanadium
  • Titanium dioxide
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life11 years (as of Jan 1, 2021)
The Maracás Menchen Mine had one of the world’s highest-grade vanadium deposits.
Latest NewsLargo Reports Fourth Quarter and Full Year 2022 Operational and Sales Results; Provides 2023 Guidance     January 24, 2023


Owners

Source: p. 8, 21
CompanyInterestOwnership
Companhia Baiana de Pesquisa Mineral (“CBPM”) 0.06 % Indirect
Largo Inc. 99.94 % Indirect
Vanádio de Maracás S.A. (operator) 100 % Direct
The property consists of eighteen (18) concessions totalling 17,690.5 hectares, and all permits are owned 100% by Largo Vanádio S.A. (“VMSA”), which is controlled 99.94% directly and indirectly by Largo. The remaining shares of Largo Vanádio S.A. (“VMSA”) are owned by Companhia Baiana de Pesquisa Mineral, an entity controlled by the Brazilian State of Bahia.

Contractors

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Deposit Type

  • Intrusion related
  • Magmatic


Summary:

The Maracás Project is Vanadiferous Titano-Magnetite (VTM) deposit.

The NNE-striking, ~70° ESE-dipping Paleoproterozoic Rio Jacaré Intrusion occurs throughout the 40 km long Maracás Project exploration permits. Along the strike of the Rio Jacaré Intrusion within the property, several discrete deposits or areas containing vanadium-rich titanomagnetite bodies have been defined, namely the Gulçari A (Campbell) deposit, the Gulçari A North (GAN) deposit, Gulçari B deposit (currently part of GAN), the Sao Jose deposit (SJO), the Novo Amparo (NAO) deposit and the Novo Amparo North (NAN) deposit. Each of these deposits are located at various stratigraphic heights within the Rio Jacaré Intrusion, and thus occur within different cyclic units.

Within all deposits, mineralized bodies consist of magnetitite layers or magnetite pyroxenite layers formed as cyclic magmatic units associated with the surrounding gabbro. Typically, magnetiteenriched units have sharp magmatic contacts with units below and gradational contacts with the units above.

The Gulçari A deposit (also referred to Campbell Pit) is hosted in the lower parts of the Upper Zone of the Rio Jacaré Intrusion, between cyclic units C1 and C6, with magnetite mineralization hosted predominantly within the C3 unit. This C3 unit comprises medium to coarse-grained gabbro containing lenses of magnetitite, magnetite-pyroxenite and pyroxenite. These lenses are interpreted to pinch out along strike (i.e. in ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Maracás Vanadium Project is an open pit operation utilizing a contract mining fleet of hydraulic excavators, front-end loaders and 36 tonne haul trucks.

Currently, Largo has a mining fleet contract with Minax Tranportes, Construções e Mineração, which consists of 4 Volvo EC750 hydraulic excavators equipped with a 2.5 m3 bucket and a total of 24 Scania 8x4 36-tonne capacity trucks. The contract drilling fleet consists of 6 Sandvik Ranger DX800 rotary drill rigs.

The disposal of waste rock, and low grade mineralized material will be executed on an area close to the pit. The site shall be adequately prepared to include drainage at its base and channels to direct the flow of water with the aim of aiding geotechnical stability and mitigating the erosion of the stockpiled material.

The operation of this phase, in accordance with the ascending method, shall begin during the construction of the heap at the base of this area. Waste rock will be disposed by truck, which will then be uniformly distributed and leveled by an operator using a tractor. The procedure is then repeated, stacking another bank above the original one, while maintaining a ramp for the trucks to be able to access the area.

Pit Optimization Parameters for Campbell Pit:
- Angle between ramps: 37.5-64 Degrees;
- Face Angle: 55-80 Degrees;
- Berm width: 6 m;
- Bench height: 10-20 m.


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Production:

CommodityProductUnits2022202120202019201820172016
V2O5 Flake & Powder t  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required9,8309,297
V2O5 Flake t 7,966
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202120202019201820172016
Ore tonnes mined  ......  Subscription required  ......  Subscription required1,156,016 t822,795 t1,165,950 t1,044,767 t
Waste  ......  Subscription required  ......  Subscription required7.01 Mt5,919,961 t
Annual production capacity  ......  Subscription required  ......  Subscription required12,000 t of v2o5 flake9,634 t of v2o5 flake9,634 t of v2o5 flake
Plant annual capacity  ......  Subscription required  ......  Subscription required960,000 t
Annual processing capacity  ......  Subscription required  ......  Subscription required1,900,000 t
Tonnes milled  ......  Subscription required  ......  Subscription required784,470 t771,804 t768,763 t
Daily production capacity  ......  Subscription required  ......  Subscription required26.4 t of v2o5 flake26.4 t of v2o5 flake
Subscription required - Subscription is required.

Reserves at December 31, 2021:
A Cut-off grade of 0.3% V 2O5 head was applied to Mineral Resource.

CategoryTonnage CommodityGradeContained Metal
Proven 15.41 Mt Titanium dioxide 8.04 % 990,432 t
Proven 15.41 Mt V2O5 1.22 % 154,750 t
Probable 2.2 Mt Titanium dioxide 8.22 % 151,344 t
Probable 2.2 Mt V2O5 1.02 % 17,657 t
Proven & Probable 17.61 Mt Titanium dioxide 8.06 % 1,141,776 t
Proven & Probable 17.61 Mt V2O5 1.2 % 172,407 t
Measured 15.77 Mt Titanium dioxide 8 % 1,261,739 t
Measured 15.77 Mt V2O5 1.22 % 192,415 t
Indicated 3.02 Mt Titanium dioxide 7.97 % 240,902 t
Indicated 3.02 Mt V2O5 0.98 % 29,622 t
Measured & Indicated 18.79 Mt Titanium dioxide 8 % 1,502,641 t
Measured & Indicated 18.79 Mt V2O5 1.18 % 222,037 t
Inferred 5.07 Mt Titanium dioxide 8.19 % 415.1 kt
Inferred 5.07 Mt V2O5 0.93 % 47 kt

Commodity Production Costs:

CommodityUnits2022202120202019201820172016
Cash costs (sold) V2O5 USD  ......  Subscription required&nbs  ......  Subscription required  ......  Subscription required
Cash costs V2O5 USD  ......  Subscription required 4.19 / lb   3.6 / lb   3.62 / lb  
^ Guidance / Forecast.
Subscription required - Subscription is required.

Financials:

Units2022202120202019201820172016
Capital expenditures (planned) M USD  ......  Subscription required
Capital expenditures M  ......  Subscription required  ......  Subscription required  ......  Subscription required 20.5  CAD 18.6  CAD 13  CAD
Revenue M  ......  Subscription required  ......  Subscription required  ......  Subscription required 521.4  CAD 167.7  CAD 81.2  CAD
Pre-tax Income M  ......  Subscription required  ......  Subscription required  ......  Subscription required 322.7  CAD -9  CAD
After-tax Income M  ......  Subscription required  ......  Subscription required  ......  Subscription required 316  CAD -10.4  CAD
Operating Cash Flow M  ......  Subscription required  ......  Subscription required  ......  Subscription required 352.1  CAD 58.6  CAD
Subscription required - Subscription is required



Heavy Mobile Equipment as of October 10, 2021:
HME TypeModelSizeQuantityLeased or
Contractor
Backhoe ....................... Subscription required ....................... Subscription required Leased
Bulldozer ....................... Subscription required ....................... Subscription required Leased
Compactor ....................... Subscription required ....................... Subscription required Leased
Drill ....................... Subscription required ....................... Subscription required Leased
Excavator ....................... Subscription required 2.5 cu. m ....................... Subscription required Leased
Excavator ....................... Subscription required ....................... Subscription required Leased
Excavator ....................... Subscription required ....................... Subscription required Leased
Excavator ....................... Subscription required ....................... Subscription required Leased
Excavator ....................... Subscription required ....................... Subscription required Leased
Grader ....................... Subscription required ....................... Subscription required Leased
Loader (FEL) ....................... Subscription required ....................... Subscription required Leased
Truck (dump) ....................... Subscription required 25 cu. m ....................... Subscription required Leased
Truck (water) 20000 l ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2022
....................... Subscription required ....................... Subscription required Subscription required Sep 30, 2022
Subscription required - Subscription is required.

Staff:

EmployeesTotal WorkforceYear
Subscription required 2022
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Management Discussion & Analysis 2018
Financial Review 2017
Management Discussion & Analysis 2017
Technical Report 2017
Financial Review 2016
Management Discussion & Analysis 2016
Management Discussion & Analysis 2015
Subscription required - Subscription is required.

News:

NewsDate
Largo Reports Fourth Quarter and Full Year 2022 Operational and Sales Results; Provides 2023 Guidance January 24, 2023

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