Business
Largo Announces Plans to Evaluate Strategic Alternatives to Maximize Value of Its Tungsten Assets in Canada and Brazil
Largo Announces Plans to Evaluate Strategic Alternatives to Maximize Value of Its Tungsten Assets in Canada and
About this update from Largo Inc.
All amounts expressed are in U.S. dollars, denoted by "$".Toronto, Ontario--(Newsfile Corp. - May 27, 2026) - Largo Inc. (TSX: LGO) (NASDAQ: LGO) ("Largo" or the "Company"), the world's largest primary vanadium producer announced today that it plans to evaluate strategic alternatives aimed at maximizing the value of its 100%-owned tungsten assets: the Northern Dancer Tungsten-Molybdenum Project in Yukon, Canada which is regarded as one of the world largest undeveloped Tungsten deposits and its Currais Novos Tungsten Project in Rio Grande do Norte, Brazil, which Largo operated in the early 2010s prior to the construction of its Maracas Vanadium mine in Bahia, Brazil.The evaluation process is expected to consider a range of strategic alternatives, including partnerships, joint-ventures, asset-level financing, minority investments, sale or spin-out opportunities, offtake-related structures, or other transactions designed to unlock value for Largo shareholders while preserving the Company's focus on its core vanadium and ilmenite operations in Brazil.As part of this process, the Company also intends to evaluate the engagement of a financial advisor or investment bank to assist Largo in assessing strategic alternatives, identifying qualified counterparties, and supporting the execution of any transaction process that may be approved by the board of directors.Tungsten is widely recognized as a critical industrial metal with applications across defense, aerospace, tooling, mining, energy and other high-performance industrial sectors. Considering increased global focus on critical minerals supply security, Largo believes its tungsten portfolio may represent a valuable and underrecognized source of optionality for shareholders.Mr. Daniel Tellechea, CoChief Executive Officer of Largo, stated: "Largo's tungsten assets provide shareholders with exposure to two distinct projects in mining-friendly jurisdictions, each supported by historical technical work and strategic relevance in today's critical minerals environment. As we continue to prioritize operational performance and balance sheet discipline, we believe now is an appropriate time to evaluate alternatives that could unlock value from these non-core assets."Mr. Alberto Arias, Co-Chief Executive Officer of Largo, added: "We have received unsolicited expressions of interest for these assets and therefor...