Largo Inc. reported annual production of 9,264 tonnes of vanadium pentoxide (V2O5) equivalent and sales of 9,600 tonnes of V2O5 equivalent for the full year 2024. Q4 2024 V2O5 production was 1,775 tonnes, a decrease from 2,768 tonnes in Q4 2023, impacted by lower ore grades and maintenance efforts.
Ilmenite concentrate production for Q4 2024 reached 10,292 tonnes, contributing to the full-year total of 44,863 tonnes. The company provided its 2025 guidance, projecting V2O5 equivalent production between 9,500 and 11,500 tonnes and sales between 7,500 and 9,500 tonnes.
Largo anticipates average adjusted cash operating costs (excluding royalties) for 2025 to be in the range of $4.50 to $5.50 per pound of V2O5 sold. Ilmenite concentrate production for 2025 is guided between 25,000 and 35,000 tonnes, indicating continued diversification of revenue streams.
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