Business Awards 2018

4 LATIN AMERICA NEWS / Business Awards 2018 , Largo Resources Ltd. Best Strategic Mineral Company 2018 Headquartered in Toronto, Canada, Largo Resources Ltd. is a strategic mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder at theMaracás MenchenMine located in Bahia State, Brazil. Having recognised this innovative and dynamic company in our 2018 Latin America Business Awards we profile it to showcase the secrets behind its phenomenal success. resistance, seismic resistance and increased strength to the steel. Currently, almost 91% of vanadium is used in the steel industry. The global steel industry is rapidly growing, as are the uses for vanadium. For example, the mineral has uses in the energy space, as companies have developed the vanadium redox flow batteries, which use vanadium ions in different states of oxidation to store potential chemical energy are considered to be a competitive alternative to lithium-ion technology for large-scale, long duration energy storage. With power plants rapidly changing their power output to keep the grid in balance, they deviate from their most efficient operating point, increasing fuel use and emissions. A viable and cost-efficient solution it to take advantage of renewable energy storage and release it to the grid at the optimal time to avoid shortfalls and blackouts. A vanadium redox battery provides the storage capacity, large and small to do so. In Latin America, Largo Resources’ Maracás Menchen Mine property totals 17,690 hectares and is located in the eastern Bahia State of Brazil. The mine is roughly 250 km southwest of Salvador (capital of Bahia). The Maracás Menchen Mine has excellent access by road. The town of Maracás has a population of approximately 30,000. Nov18763 Largo Resources is one of the highest- grade, lowest cost producers of vanadium in the world. This makes the firm one of the preferred producers of the metal with regard to the various applications of vanadium. Vanadium is a strategic metal primarily used as a strengthening alloy to steel and titanium. Small amounts of vanadium, added to steel makes it stronger, tougher and lighter. In its pure form vanadium is a soft, grey, ductile element primarily derived from mined iron ore and steel slag. A small amount of vanadium forms carbides in steel and promotes fine grain size, a process which imparts hardness, wear g