Largo Resources’ subsidiary Vanadio de Maracas has received a loan facility of $150m for the development of its Maracas vanadium project in Brazil.

The firm has received the facility from a consortium of commercial banks, led by Itau Unibanco Group’s subsidiary Banco Itau BBA and Brazilian Development Bank (BNDES).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Vanadio will receive $150m in funds from the BNDES on a 60:40 basis, with equity contributions from Largo Resources from the subscription receipt financing completed in April.

The 270 km² Maracas project is located 813km northeast of Brasilia, with the vanadium deposit hosted within the Jacare River mafic-ultramafic intrusion.

Mining Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Mining Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact

Excellence in Action
Recognised with the Research & Development Award , Nokia’s Cognitive Digital Mine uses AI, IoT and digital twin technology to deliver predictive, self-optimising mining operations. Learn how Nokia’s Digital Twin Black Box is enabling safer, more efficient and more profitable mines worldwide.

Discover the Impact