Largo Reports Record Revenue Growth Amid Vanadium Price Surge
Largo Inc., the world's largest primary vanadium producer, has announced its Q2 2026 financial results. The company reported a 68.5% revenue growth to $44 million, despite facing raw material input cost pressures.
The increase in revenue was driven by a 67.3% rise in vanadium sales revenue and an 114.4% jump in ilmenite sales revenue. Vanadium pentoxide production also saw a significant boost of 28.5%, reaching 2,900 tonnes.
Largo's Executive Chairman and Co-Chief Executive Officer, Alberto Arias, stated that the company is considering areas for further cost reductions to offset high sulfuric acid and fuel oil prices.
The company has also announced its first $60 million delivery order from the U.S. Defense Logistics Agency, supporting the supply of high-purity vanadium products. Additionally, Largo started producing copper-PGM concentrates as by-products from Maracás Menchen, with forecasted production in the 300-380 ton per month range.