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Largo Signs Definitive Agreement for US$56 Million Sale of Iron Ore Calcine as Previously Announced
All dollar amounts expressed are in U.S. dollars. Largo Inc. (" Largo " or the " ...
About this update from Largo Inc.
[{"type":"text","content":"Largo Signs Definitive Agreement for US$56 Million Sale of Iron Ore Calcine as Previously Announced\n\n\n\n\n\n\n All dollar amounts expressed are in U.S. dollars.\n \n\n\n\n Largo Inc. (\"\n \n Largo\n \n \" or the \"\n \n Company\n \n \") (\n \n TSX: LGO\n \n ) (\n \n NASDAQ: LGO\n \n ), the world’s largest primary vanadium producer, is pleased to announce that its Brazilian operating subsidiary has signed the definitive agreement for the sale of up to 4.5 million tonnes of iron ore calcine material stockpile previously announced on January 5, 2026.\n \n\n The agreement provides for a multi-year Ex Works (EXW) contract under Incoterms with total expected cash proceeds in excess of US$56 million. Under the terms of the agreement, the first payment of US$2.9 million is due by January 30, 2026, followed by a second payment of US$1.9 million due by February 16, 2026. Thereafter, monthly payments of US$1.9 million are expected to commence in April 2026, subject to the terms of the agreement.\n \n\n The Company anticipates that the transaction will improve the near-term cash flow and reduce long-term stockpile management costs and disposal requirements. Largo is maintaining a clear strategic focus on its core vanadium business while unlocking value from a new stream of iron ore calcine byproduct. These byproduct credits were not previously captured in the Company’s previous technical reports and help partially offset the currently low vanadium prices.\n \n\n About Largo\n \n\n Largo is a globally recognized supplier of high-quality vanadium and ilmenite products, sourced from its world-class Maraca’s Menchen Mine in Brazil. As one of the world’s largest primary vanadium producers, Largo produces critical materials that empower global industries, including steel, aerospace, defense, chemical, and energy storage sectors. The Company is committed to operational excellence and sustainability, leveraging its vertical integration to ensure reliable supply and quality for its customers.\n \n\n Largo is also strategically invested in the long-duration energy storage sector through its 50% ownership of Storion Energy, a joint venture with Stryten Energy focused on scalable domestic electrolyte production for utility-scale vanadium flow battery long-duration energy storage solutions in the U.S.\n \n\n The Company a...