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“ That ’ s the perfect situation for increased price and that ’ s what happened with vanadium .” Last year , according to Vanadium Price , the Chinese market price of Vanadium Pentoxide ( V2O5 ) Flake rose from $ 11.50 / lb in January , to $ 32.00 / lb in November . The combination of soaring prices and the high quality of the Maracás Menchen Mine resulted in the operation reporting record production figures of 9,830 tonnes of V2O5 in 2018 ( 2,595 of which were mined in Q4 ), a 6 % increase over 2017 , which led to the company entering 2019 with a cash balance of $ 206.2mn .
In addition to vanadium ’ s natural propensity for sustainably enhancing the steel supply chain , Largo Resources is determined to marry its profitability with a sustainable approach that benefits both the environment and the communities surrounding the Maracás Menchen Mine . “ We value and take very seriously the ways in which we contribute to our community ,” says Misk . “ We must do our best to improve and have a positive impact on the
APRIL 2019