Commencing construction in 2012 , Largo is rapidly approaching commercial production . The project will utilize a simple , cost effective , open-pit mining process and proven industry methods to extract vanadium The Maracas project is expected to produce 9,600 tons of vanadium pentoxide per year and , although the current mine life is 29 years , the company foresees the potential to extend the mine ’ s lifecycle to exceed 100 years .
“ The good news is it ’ s a big system so this will be producing for a long time and be a significant contributor to a continuous and consistent supply of vanadium for steel users ,” says Brennan .
Vanadium , which is a commonly used ingredient in steel and titanium , is a strategic metal derived from primary mining and steel slag . The metal imparts hardness , wear resistance , seismic resistance and significantly increased strength to steel .
“ Asia will be the fastest-growing market for vanadium , led by China , Japan , South Korea and Indonesia ,” said Brennan .