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Largo Inc. (ticker: LGO; Korean name: ëťĽëĄ´ęł ) is a publicly traded supplier of critical metals, primarily vanadium and ilmenite. The company operates with full vertical integration—from mining at its Maracás Menchen Mine in Brazil to processing and delivering VPURE® and VPURE+® vanadium products. As of October 15, 2023, Largo’s shares closed at USD 1.09 on the NAS exchange, reflecting a 56.75% decline, on a trading volume of 1,800,349 shares.
| Ticker | Exchange | Price (USD) | Change (%) | Volume |
|---|---|---|---|---|
| LGO | NAS | 1.09 | -56.75% | 1,800,349 |
Corporate Structure
Founded in 1988 and headquartered at 55 University Avenue, Toronto, Ontario, Largo Inc. employs between 201 and 500 people across North America and Brazil. Key locations include:
- Toronto, Ontario (corporate headquarters)
- Wilmington, Massachusetts (U.S. research and processing)
- Salvador, Bahia (regional office)
The company’s vertically integrated model encompasses exploration, mining, processing, and logistics, allowing for control over quality and cost at each stage.
Vanadium production by Morteza Mohammadi
Recent Developments and News
For the quarter ended June 30, 2025, Largo Inc. reported a 17% reduction in total operating costs year-over-year, attributed to cost containment measures and operational stabilization at its Maracás Menchen Mine. During the same period, Largo announced its partnership with Storion Energy, including a strategic supply agreement with TerraFlow Energy to lease vanadium electrolyte for a 48 MWh flow battery project in Bellville, Texas.
Financial and Strategic Analysis
Largo’s stock performance reflects ongoing challenges in the vanadium sector. The company has invested in:
- Expanding ilmenite concentrate production to diversify revenue streams.
- Developing vanadium flow battery electrolyte technology in support of clean energy storage initiatives.
These initiatives are aimed at positioning Largo for participation in the long-duration energy storage market, which is projected to reach 80–140 TWh by 2040.
Market Position and Industry Context
As a global supplier, Largo maintains a prominent position in the vanadium market. Key industry indicators include:
- Each GWh of vanadium redox flow battery (VRFB) storage requires approximately 10,000 metric tons of Vâ‚‚Oâ‚….
- Demand for VRFB energy storage is predicted to necessitate a 173% increase in vanadium production by 2050.
- The North American VRFB solutions market is estimated to encompass hundreds of gigawatts.
Largo’s vertical integration and collaboration with Storion Energy contribute to a reliable supply chain for vanadium electrolyte, facilitating VRFB deployment across commercial, industrial, and grid applications.
tl;dr
For Q2 2025 (ended June 30), Largo Inc. reported a 17% year-over-year cost reduction and advanced its partnership with Storion Energy—securing a 48 MWh flow-battery electrolyte lease in Bellville, Texas. Shares closed at USD 1.09 on October 15, 2023, reflecting a 56.75% decline. Largo’s investments in ilmenite capacity and vanadium electrolyte technology align with projected growth in long-duration energy storage through 2040.
