Largo cuts 2026 vanadium production guidance as new by-products begin
Largo Inc. reported on October 30, 2026 that third-quarter vanadium pentoxide output fell to 2,093 tonnes from 2,636 tonnes a year earlier, while sales were 2,428 tonnes versus 2,417 tonnes. The company recorded initial concentrate output of copper, gold, platinum and palladium, and reduced its 2026 vanadium production outlook to 9,500-10,500 tonnes from 10,500-12,000 tonnes while keeping sales guidance at 7,500-9,500 tonnes. Largo also said restructuring agreements now cover approximately 58.4% of its commercial bank senior debt.
Why it matters
The lower production outlook and increased cost guidance could pressure Largo's operating outlook, although the company said new by-product credits should offset most of the cost increase starting in the fourth quarter. The restructuring agreements extend debt relief coverage to a majority of the company's commercial bank senior debt.
Key facts
- 1Vanadium pentoxide production in the third quarter was 2,093 tonnes, compared with 2,636 tonnes in Q3 2025. stocktitan.net
- 2During the first nine months of 2026, vanadium pentoxide production reached 7,609 tonnes, an increase of 23% year over year. stocktitan.net
- 3Largo retained 2026 vanadium sales guidance of 7,500-9,500 tonnes and cut production guidance to 9,500-10,500 tonnes from 10,500-12,000 tonnes. stocktitan.net
- 4Largo recorded initial concentrate quantities of 108 tonnes for copper; gold, platinum and palladium were 289 ounces, 166 ounces and 291 ounces, respectively. stocktitan.net
- 5Adjusted cash operating cost guidance was raised to $5.00 to $6.00 per pound of vanadium pentoxide. investing.com
- 6Debt restructuring agreements with Banco Santander (Brasil) S.A., Banco do Brasil S.A. and Caixa Econômica Federal cover approximately 58.4% of Largo's commercial bank senior debt. investing.com
Open questions
- The materials are not fully consistent on Q3 by-product sales: one account says the concentrates were sold, while another says no by-product metal sales volumes were recorded during the quarter.
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.