Maracás Menchen, Brazil / Vanadium
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A vanadium mine operated by Largo Inc. and
located in the eastern Bahia State of Brazil, 250km south‑west of Salvador, the capital of Bahia, and 800km north-east of Brasilia, the capital of Brazil.
Producing
Vanadium
Largo Resources
Brazil
Royalty rate and type
2% NSR
Balance sheet classification
Royalty intangible
Key facts
$1.7m
Totalled royalties from the Maracás Menchen mine in 2024.
9.2kt
In 2025 the Maracás Menchen mine produced 9.2kt
The Group has a 2% NSR royalty on all mineral products sold from the area of the Maracás Menchen mine to which the royalty interest relates. The project covers an area in excess of the current mining permits which offers potential for exploration upside. Maracás Menchen is 99.97% owned and operated by TSX-listed Largo.
Maracás Menchen is one of the lowest cost and highest grade vanadium mines in the world. The majority of the vanadium goes into steel. Largo has a vertically integrated business model where some vanadium is used to produce long‑duration grid scale vanadium redox flow batteries (VRFBs) for the renewable energy storage market.
In 2025 the Maracás Menchen mine produced 9.2kt (2024: 9.3kt) of vanadium pentoxide equivalent sales of [8.7]kt (2024: 9.6kt).