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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
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  • Geology
  • Mining
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  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Vanadium
  • Titanium dioxide
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life2032
The Maracás Menchen Mine is one of the world’s highest-grade vanadium deposits. Maracás Menchen Mine is one of only three large-scale primary vanadium mines globally.

In Q2 2023, construction of the Largo's ilmenite concentration plant was completed, followed by the start of commissioning. The Company expects to complete the commissioning phase in Q3 2023 and start a gradual ramp-up of ilmenite production in Q4 2023.


Owners

Source: p. 10,26
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 concessions totalling 17,690.5 hectares, and all permits are owned 100% by Largo Vanádio S.A., which is controlled 99.94% directly and indirectly by Largo. The remaining shares of Largo Vanádio S.A. 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.

In January 2021 the Company completed feed rate improvements to the kiln resulting in a further increase in nameplate capacity from 1,000 tonnes per month to 1,100 tonnes per month. A new mining contractor (Minax) began work at the mine on May 1, 2021. The mine now has a new fleet of mining equipment which consists of eight hydraulic excavators equipped with a 3.5-5.16 m3 bucket and a total of 20 Volvo and 12 Scania 45-tonne capacity trucks and other auxiliary equipment. The contract drill fleet consists of six 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 O ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Production:

CommodityProductUnits2023202220212020201920182017
V2O5 Flake & Powder t  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required9,8309,297
V2O5 Flake t
^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Plant annual capacity  ......  Subscription required960,000 t960,000 t
Annual production capacity  ......  Subscription required  ......  Subscription required12,000 t of v2o5 flake12,000 t of v2o5 flake9,634 t of v2o5 flake
Ore tonnes mined  ......  Subscription required  ......  Subscription required1,087,518 t1,156,016 t822,795 t1,165,950 t
Waste  ......  Subscription required  ......  Subscription required9,701,910 t7.01 Mt5,919,961 t
Tonnes milled  ......  Subscription required  ......  Subscription required784,470 t771,804 t
Daily production capacity  ......  Subscription required  ......  Subscription required26.4 t of v2o5 flake
Subscription required - Subscription is required.

Reserves at December 31, 2022:
A Cut-off grade of 0.3% V2O5 head was applied to Mineral Resource.

CategoryTonnage CommodityGradeContained Metal
Proven 14.24 Mt Titanium dioxide 7.97 % 912,052 t
Proven 14.24 Mt V2O5 1.2 % 140,269 t
Probable 2.21 Mt Titanium dioxide 8.22 % 151,610 t
Probable 2.21 Mt V2O5 1.02 % 17,677 t
Proven & Probable 16.45 Mt Titanium dioxide 8.01 % 1,063,662 t
Proven & Probable 16.45 Mt V2O5 1.17 % 157,946 t
Measured 14.37 Mt Titanium dioxide 7.95 % 1,143 kt
Measured 14.37 Mt V2O5 1.2 % 172 kt
Indicated 3.02 Mt Titanium dioxide 7.97 % 240.9 kt
Indicated 3.02 Mt V2O5 0.98 % 29.6 kt
Measured & Indicated 17.39 Mt Titanium dioxide 7.95 % 1,384 kt
Measured & Indicated 17.39 Mt V2O5 1.16 % 201.6 kt
Inferred 5.07 Mt Titanium dioxide 8.19 % 415.1 kt
Inferred 5.07 Mt V2O5 0.93 % 47 kt

Commodity Production Costs:

CommodityUnits2023202220212020201920182017
Cash costs (sold) V2O5 USD  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required
Cash costs V2O5 USD  ......  Subscription required 4.19 / lb   3.6 / lb  
^ Guidance / Forecast.
Subscription required - Subscription is required.

Financials:

Units2023202220212020201920182017
Capital expenditures (planned) M USD  ......  Subscription required
Capital expenditures M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 20.5  CAD 18.6  CAD
Revenue M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 521.4  CAD 167.7  CAD
Pre-tax Income M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 322.7  CAD -9  CAD
After-tax Income M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 316  CAD -10.4  CAD
Operating Cash Flow M  ......  Subscription required  ......  Subscription required  ......  Subscription required  ......  Subscription required 352.1  CAD 58.6  CAD
Subscription required - Subscription is required


Pipelines and Water Supply
Source: Subscription required

- subscription is required.


Heavy Mobile Equipment:
HME TypeModelSizeQuantityLeased or
Contractor
Ref. Date
Backhoe ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Bulldozer ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Compactor ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Drill ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Excavator ....................... Subscription required 2.5 cu. m ....................... Subscription required Leased Oct 10, 2021
Excavator ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Excavator ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Excavator ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Excavator ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Grader ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Loader (FEL) ....................... Subscription required ....................... Subscription required Leased Oct 10, 2021
Truck (haul) ....................... Subscription required 45 t ....................... Subscription required Leased Dec 3, 2022
Truck (haul) ....................... Subscription required 45 t ....................... Subscription required Leased Dec 3, 2022
Truck (water) 20000 l ....................... Subscription required Leased Oct 10, 2021
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 29, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 29, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 29, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 29, 2023
....................... Subscription required ....................... Subscription required Subscription required Jul 29, 2023
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2022
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Annual Information Form 2022
Corporate Presentation 2022
Management Discussion & Analysis 2022
Other 2022
Sustainability Report 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.

Subscription required - Subscription is required.

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