Largo Reports Strong Q2: Vanadium Production Soars

Largo's second quarter of 2026 marked a period of considerable progress, with executive leadership highlighting strong operational execution and financial recovery. Ore availability improved significantly, leading to a 46.6% year-over-year increase in total ore mined to 712,198 tonnes. This enhanced mine access and plant stability boosted vanadium production by 28.5% to 2,900 tonnes, near the upper end of quarterly guidance. For the first half of 2026, production reached 5,516 tonnes, a 55.2% jump from the previous year.

Commercial performance mirrored production gains, with vanadium sales climbing 53% to 2,773 tonnes of vanadium pentoxide equivalent. Ilmenite concentrate sales also saw robust growth, up 67% to 10,059 tonnes. The market environment proved more favorable, with European vanadium pentoxide benchmarks rising 17.5% year-over-year and U.S. ferrovanadium prices increasing by 45.8%. These positive results contributed to Largo's return to positive adjusted EBITDA, underscoring strengthened business operations and broadening future opportunities.