Largo Resources Secures Maracás Expansion Permit in Brazil

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[{"type":"text","content":"\n\n\n\nLargo Resources Secures Maracás Expansion Permit in Brazil\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 2, 2018\n\n\n\n TORONTO, Nov. 2, 2018 /CNW/ - Largo Resources Ltd. (\"Largo\" or the \"Company\") (TSX: LGO) (OTCQX: LGORF) is pleased to announce that Instituto do Meio Ambiente e Recursos Hidricos (\"INEMA\") has published the Company's environmental license (the \"License\") for the Maracás Menchen Mine expansion project. As previously announced on April 16, 2018, Largo has commenced an expansion project that focuses on increasing the production capacity of the milling, fusion (deammoniator, furnace and flaking wheel), leaching and filtering areas. The expansion will see production capacity at the Maracás Menchen Mine increase 25% from the nameplate rate of approximately 800 tonnes per month of vanadium pentoxide (\"V2O5\") to 1,000 tonnes per month (the \"Expansion Project\").\nThe enhanced production rate at the Maracás Menchen Mine is expected to result in an additional 200 tonnes of V2O5 being produced per month from and after June 2019 and capital expenditures for the plan are anticipated to total approximately US$15.5 million using current exchange rates. Construction began at the beginning of June 2018 with an expected timetable for completion of approximately 12 months, including the required commissioning.\nIn accordance with standard practice, INEMA published confirmation of the License for the Expansion Project on October 26, 2018. The License is valid for a period of 2 years and may then be further extended in accordance with the Company's standard Operating License which was confirmed on October 5, 2018 (see press release dated October 11, 2018). \nMark Smith, Chief Executive Officer for Largo, stated: \"Securing this permit was a key milestone in our expansion project and we now look forward to delivering a substantial increase in capacity on time and on budget. Demand for vanadium continues to increase worldwide and the supply side fundamentals continue to indicate a shortage of the commo...

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