Vanadium producer Largo anticipates higher vanadium pentoxide (V2O5) production in 2025. Output will concentrate in the second half. The Canada-based company expects to produce between 9,500-11,500 metric tonnes (t) of V2O5. However, Largo warned that heavy rainfall and delayed ramp-up after scheduled maintenance will disrupt early-year production.
Production Challenges in Early 2025
Lower ore grades and mine sequencing adjustments will further pressure first-half 2025 production. Last year, the company produced 9,264t of V2O5 at its Maracás Menchen mine in Brazil. This figure met annual guidance but fell by 4.3% from 2023 totals. Full-year sales volumes of 9,600t also met Largo’s outlook. Nevertheless, they decreased by 7.7% in the same timeframe. Largo forecasts 2025 sales between 7,500-9,500t.
Fourth-Quarter Performance and Ore Grades
Fourth-quarter vanadium pentoxide output dropped by 36% to 1,775t. This resulted from planned kiln and refractory work. Conversely, sales in October-December increased by 16% year-on-year to 3,033t. This included purchased units and material bought under an inventory supply agreement. Vanadium ore grades dropped to 0.49% in the quarter. This is a decrease from 0.82% in the prior-year period. Recovery rates fell to 77.9% from 79.4% in the same timeframe.
Ilmenite Production Forecast
Largo expects to produce less ilmenite this year. The target output is between 25,000-35,000t. This follows the 44,863t produced in 2024. The company anticipates selling between 20,000-30,000t of the raw material by-product. This is a decrease from the 42,916t shipped last year. SuperMetalPrice will continue to track Largo’s production.
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