Largo gets $56M binding term sheet for sale of 4.5M tons of iron ore calcine
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Largo (LGO) has received a binding term sheet for the potential sale of 4.5 million tons of iron ore calcine, generated as a byproduct from its vanadium production at the Maracás Menchen mine in Brazil. The contract could yield at least $56 million in cash proceeds over multiple years. The company views this as an opportunity to unlock value from its mining activities and highlights the strategic importance of its byproduct inventory in enhancing the competitiveness of its vanadium business.
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