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In an interview with Mining Weekly, Mark Brennan, president and CEO of Largo Resources Ltd. (TSXV:LGO), said the company expects to capture 7.5 percent of the global vanadium market with the next year.

In an interview with Mining Weekly, Mark Brennan, president and CEO of Largo Resources Ltd. (TSXV:LGO), said the company expects to capture 7.5 percent of the global vanadium market with the next year.

As quoted in the market news:

Brennan said despite the company dealing with some initial teething problems at the front-end of the plant, no critical issues had been found as the plant ramped up. He expected the mine to declare commercial production when the plant had achieved a throughput rate of between 50% and 60% of the nameplate capacity by September or October, with full production expected from the first quarter of 2015.

Largo expects output to reach a rate of 9 600 t/y of vanadium pentoxide within the next 12 months, at cash costs of between $5.50/kg and $6/kg. A second phase of expansion will see output rise to 14 400 t/y within the next three years, potentially giving the company the ability to supply up to 10% of the global demand.

Click here to read the full Mining Weekly report.

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