Largo Receives Environmental Permit for GAN Open Pit Vanadium-Copper-Gold-PGM Mine Development
Key Highlights
- ➤Largo (LGO) receives environmental permit for GAN open-pit mine development
- ➤GAN permit includes four-year license for pit and associated infrastructure
- ➤GAN development should extend production, diversify ore sources, and reduce operating risks
- ➤Maracás Menchen mine plan projects 31-year mine life
- ➤GAN contains vanadium, copper, gold and platinum group metals
Expert Statements
Alberto Arias, Executive Chairman and Co-CEO of Largo
“This approval is strategically important as the Western World is looking for additional sources of vanadium, copper and PGM and illustrates Largo's potential to deliver a next generation of mines within our area of influence in a capital efficient way. The success in the GAN mine permitting process reflects the sustained efforts of our management in Brazil and our ongoing engagement with the relevant authorities.”
James (Jim) Bannantine, Co-CEO of Largo
“The GAN permit strengthens the long-term fundamentals of Maracás Menchen Mine and provide flexibility. It provides greater certainty around our future mining areas and enhances our ability to execute the mine plan in a disciplined and sustainable manner. Our focus remains on improving the underlying performance of the business, extending the value of our mineral resources and building a more resilient operation for shareholders over the long term.”
Key Highlights: * Receipt of GAN's environmental permit paves the way for the development of the second open pit primary vanadium mine in Largo Inc. proposed mining sequence. * The proposed GAN open pit mine is adjacent to the north to the Campbell open pit mine. Campbell has been the sole source of Largo's vanadium production since its start up 12 years ago. * The development of a second open pit mine should extend production for multiple years, optimize mining plans, add operating flexibility and reduce operating risks by diversifying ore sources to our ore processing facilities which are near both mines. * GAN deposit also contains copper, gold and platinum group metals ("PGMs") associated with its mineralized zones, similar to Campbell open pit mine which successfully started production of copper, gold and PGMs as by-products since August 2026. * GAN is one of the five open pits in Largo's Maracás Menchen portfolio which includes a resource base that has potential to last for more than 30 years at current production rates.
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