Largo Resources (“Largo” or the “Company”) announces its support for the new rebar standard announced on February 9, 2018 by the Standardization Administration for the People’s Republic of China. This announcement also includes a special action to cut down on the use of all substandard steels in China. The new rebar standard and related action is expected to be implemented by November 2018.
Mr. Mark Smith, CEO of Largo stated:
“The revised rebar standard will enhance the quality of rebar being used in China, which will in-turn allow China to build earthquake resistant homes and industrial capacity in the most efficient manner in terms of energy and raw material consumption and pollution generation.
High strength low alloy vanadium steels are the most efficient material available for the development of the infrastructure necessary in order to create economic opportunity for the approximately two thirds of the earth’s population living in developing economies.”