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Largo Vanadium Mining Company Will Invest Billions in Its New Titanium Factory in Bahia, Which at Full Capacity Will Have the Capacity to Produce 120 Thousand Tons of the Product Per Year
Largo Vanadium Mining Company from Maracás will invest, starting next year until 2032, several investments in Bahia, reaching up to R$ 3 billion. A large part of the capital will be allocated to the construction of a new titanium pigment manufacturing plant, a material used in the chemical and construction sectors. The new factory, which will have about R$ 1.836 billion invested, will start operations in Camaçari in 2024 and promises to generate 500 new job opportunities for the municipality.
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New Titanium Factory in Bahia Will Not Impact the Environment
According to the president of the mining company, Paulo Misk, the new factory in Bahia will recover titanium from vanadium tailings, thus the environmental impacts at the mine in Maracás will not be increased.
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Currently, the mining company is finalizing the purchase of the land in Camaçari. Subsequently, it will wait for the approval of the location by the Bahia government to begin construction of the new titanium factory, which will take place starting next year. This phase will take about 24 months, and titanium production will start in the first quarter of 2024. According to the president of the mining company, the project will have three phases.
The first phase, with an investment of R$ 491.6 million, will begin operations in 2024, producing around 30 thousand tons. In the second phase, two years later, the production at the unit in Bahia will increase to 60 thousand tons. Lastly, when the new factory is at full capacity in 2029, it will have the ability to produce 120 thousand tons per year.
CBPM Celebrates the Investment from the Mining Company
The announcement of new investments from the mining company was celebrated by Antonio Carlos Tramm, president of the Bahia Mineral Research Company (CBPM). According to the president, the company has always advocated that mining needs to verticalize its production and that the state needs to export products with higher added value such as titanium. Tramm stated that the mining company’s decision represents a significant evolution in mindset and hopes that other companies will follow suit.
Bahia is one of the states with the most opportunities for new companies. The proof of this fact is the Vanadium of Maracás, considered one of the largest miners in the state and the only one manufacturing the homonymous substance in Brazil.
Group Plans to Reach 15.9 Thousand Tons Annually
The mining company’s investment plan for the next decade also includes R$ 1.173 billion allocated for the expansion of vanadium for batteries. The goal is to achieve a production of 15.9 thousand tons at the Maracás mine by 2030.
Vanadium is a product that enhances the strength of steel, enabling a more sustainable use of it. Additionally, vanadium is also widely used in the aerospace industry.
The Maracás factory is one of the most advanced in mineral processing in the world. The Vanadium Pentoxide produced there has a purity level greater than 99%. The ore recovery rate is 80%, considered the highest on the planet.
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