Largo Inc. announced on April 14, 2026 that it has filed a request with Brazil’s Mining Agency (ANM) to produce and sell copper, platinum group metals (PGMs), nickel and cobalt as by‑products of its existing vanadium mining and processing operations at the Maracás Menchen Mine. The filing, which was submitted on April 10, 2026, is the first step in a program that could diversify the company’s revenue base beyond vanadium and ilmenite and reduce commodity‑price risk.
The company’s first‑quarter 2026 production figures show vanadium pentoxide output of 2,616 tonnes, a 101.7% increase from 1,297 tonnes in Q1 2025. Sales rose to 2,141 tonnes, up 2.2% from 2,066 tonnes in the prior year, reflecting higher ore grades and an increase in total ore mined. Ilmenite concentrate production climbed 86.8% to 11,514 tonnes, with sales of 11,477 tonnes, a 32.7% rise, driven by improved processing efficiency and higher ore throughput.
Metallurgical assays from the Maracás Menchen mine confirm copper concentrations of 16.6 % and PGM grades of 22.5 g/t platinum and 22.4 g/t palladium, along with measurable amounts of gold, silver and rhodium. These results support the feasibility of a by‑product recovery program that could generate additional cash flow and broaden the company’s product portfolio.
The ANM approval process will involve a review of the company’s metallurgical data, environmental impact assessments and compliance with Brazilian mining regulations. While the exact timeline is not yet public, the agency typically requires several weeks for technical evaluation before granting a production license. Approval would allow Largo to begin commercial production of the by‑products, potentially creating new revenue streams and mitigating exposure to vanadium price swings.
Leadership changes announced alongside the filing saw Luis Rendón become the sole Chief Operating Officer and Lúder Peixoto promoted to Group General Counsel. The consolidation of executive responsibility is intended to streamline decision‑making and focus management attention on the by‑product strategy, aligning leadership structure with the company’s new growth objectives.
The combined effect of a successful by‑product program and a leaner executive team positions Largo to capitalize on its existing infrastructure, improve operational leverage, and reduce commodity‑price risk. The announcement signals a strategic pivot toward diversification and operational efficiency, offering a potential upside to Largo’s financial performance and a clearer path to sustainable growth.
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