Largo Resources to invest US$360mn in Brazil titanium project
Toronto-based Largo Resources is planning to invest US$360mn in Brazil to produce titanium dioxide pigment.
"To expand the production of vanadium for batteries, we’re going to invest US$230mn starting in 2031. But now most of our investments will go to the production of titanium pigment, which will consume US$360mn," said company president Paulo Misk (pictured) in an interview with Brazilian business daily Valor Econômico.
The three phase-project will see a processing plant being installed at the Camaçari petrochemical complex, in the northeastern state of Bahia, with the production mostly aimed for the Brazilian market, said Misk.
The first phase will begin in 2024 with an estimated production of 30,000t. The second phase will start in 2026 when output will increase to 60,000t, and the third will begin in 2029 with 120,000t production, he said.
Today at Camaçari the company produces vanadium for use in batteries, which is its main business.
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