# Vanadium Mining News Canonical page: https://atlas-extractions.minestarters.com/news?commodities=vanadium Atlas summarizes and classifies mining-industry stories from third-party publishers. Follow each source link for the original reporting. Results: 27 Returned: 10 Coverage: drill results, resource updates, and metallurgy; primary commodity matching; all time unless dates are supplied. Commodity: Vanadium (vanadium) Applied filters: {"commodities":["vanadium"],"commodity_scope":"primary","document_types":["drill_results","resource_update","metallurgy"],"document_type_match":"any"} Sort: published_at desc Offset: 0; page size: 10 [Next page](https://atlas-extractions.minestarters.com/news.md?commodities=vanadium&page=2&page_size=10) ## Largo Announces Strategic Focus on Higher-Margin Products; Provides Update on Copper-Platinum Group Metal Margins and Potential Expansion; and Further Advances Debt Restructuring - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/largo-announces-strategic-focus-on-higher-margin-products-provides-update-on-cop--3019483f-23bb-47a5-8641-e3403cf2e828) · [Markdown](https://atlas-extractions.minestarters.com/news/largo-announces-strategic-focus-on-higher-margin-products-provides-update-on-cop--3019483f-23bb-47a5-8641-e3403cf2e828.md) - Original announcement: 2026-09-23T12:18:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Largo Inc. (LGO.TO) - Original source: [orestocks](https://orestocks.com/company/LGO.TO/press-releases/4524650086411132) - Atlas sentiment: 0.315 - Atlas tags: production, metallurgy, agreement_transaction, Mill Route, Single Domain Only Largo is shifting its production focus toward high-margin high-purity vanadium and copper-PGM concentrates, the latter of which is yielding operating margins above 90%. The company is also advancing its debt restructuring, having secured definitive agreements for 48% of its commercial bank senior debt. ## Largo Announces Strategic Focus on Higher-Margin Products; Provides Update on Copper-Platinum Group Metal Margins and Potential Expansion; and Further Advances Debt Restructuring - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/largo-announces-strategic-focus-on-higher-margin-products-provides-update-on-cop--d9eacfe8-7d43-4601-bbf3-5faf29c53303) · [Markdown](https://atlas-extractions.minestarters.com/news/largo-announces-strategic-focus-on-higher-margin-products-provides-update-on-cop--d9eacfe8-7d43-4601-bbf3-5faf29c53303.md) - Original announcement: 2026-09-23T12:18:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Largo Inc. (LGO) - Original source: [newsfile](https://www.newsfilecorp.com/release/315649/Largo-Announces-Strategic-Focus-on-HigherMargin-Products-Provides-Update-on-CopperPlatinum-Group-Metal-Margins-and-Potential-Expansion-and-Further-Advances-Debt-Restructuring) - Atlas sentiment: 0.315 - Atlas tags: High Recovery, Nearology Play, Mill Route, Single Domain Only Largo is optimizing its production mix to focus on high-margin high-purity vanadium and copper-PGM concentrates, which currently yield operating margins above 90%. The company is also advancing debt restructuring, having secured definitive agreements for 48% of its commercial bank senior debt. ## VanadiumCorp Continues the Third Year of Upstream Mineral Processing Research with Université de Sherbrooke - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/vanadiumcorp-continues-the-third-year-of-upstream-mineral-processing-research-wi--d2c8eb41-95b1-4a33-b695-0d449a16aa47) · [Markdown](https://atlas-extractions.minestarters.com/news/vanadiumcorp-continues-the-third-year-of-upstream-mineral-processing-research-wi--d2c8eb41-95b1-4a33-b695-0d449a16aa47.md) - Original announcement: 2026-09-14T12:30:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: VanadiumCorp Resource Inc. (VRB) - Original source: [orestocks](https://orestocks.com/company/VRB.V/press-releases/6419362434067308) - Atlas sentiment: 0.16 - Atlas tags: Bench Scale Only, Single Domain Only VanadiumCorp has entered the third year of a mineral processing research collaboration with Université de Sherbrooke. The program focuses on evaluating upstream processing pathways for vanadium, titanium, and iron mineralization at the Lac Doré property in Québec. ## SAGA Metals and Temas Resources Successfully Complete Metallurgical Scoping Test Achieving Vanadium Recoveries of 97.4% and Titanium Recoveries up to 90.8% and Announce a Pathway Towards a Pilot Plant for Radar Critical Minerals Project - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/saga-metals-and-temas-resources-successfully-complete-metallurgical-scoping-test--adc943f1-127d-416d-b031-712c3b58d9e6) · [Markdown](https://atlas-extractions.minestarters.com/news/saga-metals-and-temas-resources-successfully-complete-metallurgical-scoping-test--adc943f1-127d-416d-b031-712c3b58d9e6.md) - Original announcement: 2026-07-30T11:30:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: SAGA Metals Corp. (SAGA) - Original source: [tmx](https://money.tmx.com/en/quote/SAGA/news/7236697644589137/saga-metals-and-temas-resources-successfully-complete-metallurgical-scoping-test) - Atlas sentiment: 0.493 - Atlas tags: High Recovery, True Width Disclosed, Mill Route, Gravity Route, Multi-Domain Tested SAGA Metals has successfully completed Stage 1 metallurgical scoping tests at its Radar Critical Minerals Project using Temas Resources' proprietary RCL technology. The tests achieved high recoveries, including 97.4% for vanadium and up to 90.8% for titanium, supporting advancement to a Stage 2 optimization program. ## Phenom Files U.S. Provisional Application to Protect New Vanadium-Nickel Flowsheet - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/phenom-files-u-s-provisional-application-to-protect-new-vanadium-nickel-flowshee--027ab041-1c1b-439a-ac4c-e661ce98582c) · [Markdown](https://atlas-extractions.minestarters.com/news/phenom-files-u-s-provisional-application-to-protect-new-vanadium-nickel-flowshee--027ab041-1c1b-439a-ac4c-e661ce98582c.md) - Original announcement: 2026-07-23T13:00:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Phenom Resources Corp. (PHNM) - Original source: [tmx](https://money.tmx.com/en/quote/PHNM/news/7563789859755621/phenom-files-u-s-provisional-application-to-protect-new-vanadium-nickel-flowshee) - Atlas sentiment: 0.358 - Atlas tags: Mill Route, Single Domain Only Phenom Resources Corp. has filed a U.S. provisional patent application for a new vanadium-nickel metallurgical flowsheet. Testwork conducted at SGS Canada demonstrated approximately 80% vanadium and 75% nickel recovery from a high-grade offshore source. ## SAGA Metals Highlights Radar Project's VTM Enriched Magnetic Concentrate up to 0.9% V2O5 Relative to Panzhihua, China Benchmark of 0.3% V2O5 - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/saga-metals-highlights-radar-project-s-vtm-enriched-magnetic-concentrate-up-to-0--e04997f4-81cc-4860-bec1-77527066e59c) · [Markdown](https://atlas-extractions.minestarters.com/news/saga-metals-highlights-radar-project-s-vtm-enriched-magnetic-concentrate-up-to-0--e04997f4-81cc-4860-bec1-77527066e59c.md) - Original announcement: 2026-06-18T11:30:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: SAGA Metals Corp. (SAGA) - Original source: [tmx](https://money.tmx.com/en/quote/SAGA/news/7124953255933440/saga-metals-highlights-radar-project-s-vtm-enriched-magnetic-concentrate-up-to-0) - Atlas sentiment: 0.323 - Atlas tags: Bench Scale Only, Mill Route, Gravity Route, Single Domain Only SAGA Metals has released preliminary Davis Tube Analysis (DTA) results from the Hawkeye zone of its Radar Project, showing vanadium pentoxide (V2O5) enrichment in magnetic concentrates up to 0.9%. The results also indicate that a large portion of titanium reports to the non-magnetic fraction, potentially allowing for separate iron-vanadium and titanium-rich streams. ## Transition Metals Acquires Prospective Vanadium Project in Ontario and Updates Financing Plans - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/transition-metals-acquires-prospective-vanadium-project-in-ontario-and-updates-f--47820c3c-efc5-4348-944f-07b40721ef3e) · [Markdown](https://atlas-extractions.minestarters.com/news/transition-metals-acquires-prospective-vanadium-project-in-ontario-and-updates-f--47820c3c-efc5-4348-944f-07b40721ef3e.md) - Original announcement: 2026-04-27T11:29:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Transition Metals Corp. (XTM) - Original source: [tmx](https://money.tmx.com/en/quote/XTM/news/7629731679463097/transition-metals-acquires-prospective-vanadium-project-in-ontario-and-updates-f) - Atlas sentiment: 0.23 - Atlas tags: Nearology Play, Capital Raise, Single Domain Only Transition Metals Corp. has acquired a 100% interest in the Empire Lake Project in Ontario, a vanadium-rich property with historical mineralization up to 0.63% V2O5. Additionally, the company has updated its financing plans, reducing its intended private placement target from $1,000,000 to $750,000. ## VanadiumCorp Reports Results of Ambient Noise Tomography Survey at Lac Dore Vanadium Project - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/vanadiumcorp-reports-results-of-ambient-noise-tomography-survey-at-lac-dore-vana--14a29a00-67c4-47f9-be56-d72b0ee143f2) · [Markdown](https://atlas-extractions.minestarters.com/news/vanadiumcorp-reports-results-of-ambient-noise-tomography-survey-at-lac-dore-vana--14a29a00-67c4-47f9-be56-d72b0ee143f2.md) - Original announcement: 2026-04-16T11:30:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: VanadiumCorp Resource Inc. (VRB) - Original source: [tmx](https://money.tmx.com/en/quote/VRB/news/7273859847409970/vanadiumcorp-reports-results-of-ambient-noise-tomography-survey-at-lac-dore-vana) - Atlas sentiment: 0.1 - Atlas tags: Inferred Resource, Historical Estimate Only, No QP/CP Disclosure VanadiumCorp has reported results from an Ambient Noise Tomography (ANT) geophysical survey at the Lac Doré Vanadium Project, which suggests the known vanadium-titanium-magnetite trend may extend at depth. The company also restated a historical mineral resource estimate from 2020, which it notes is unverified and not being treated as a current resource. ## Elcora Reports High-Grade Vanadium-Lead Mineralisation from surface samples in Morocco, Advancing Downstream Strategy in a Critical-Mineral Market - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/elcora-reports-high-grade-vanadium-lead-mineralisation-from-surface-samples-in-m--ae37ef20-d8ee-4fd7-b7e0-caa3c55f144c) · [Markdown](https://atlas-extractions.minestarters.com/news/elcora-reports-high-grade-vanadium-lead-mineralisation-from-surface-samples-in-m--ae37ef20-d8ee-4fd7-b7e0-caa3c55f144c.md) - Original announcement: 2026-04-16T11:00:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Elcora Advanced Materials Corp. (ERA) - Original source: [tmx](https://money.tmx.com/en/quote/ERA/news/8091031995954024/elcora-reports-high-grade-vanadium-lead-mineralisation-from-surface-samples-in-m) - Atlas sentiment: 0.311 - Atlas tags: No QA/QC Disclosure, Nearology Play Elcora has reported high-grade vanadium (3.76% to 5.52%) and lead (25.26% to 37.69%) from surface rock samples at the Tissaf property in Morocco. The results highlight significant potential for critical mineral supply, though the company noted that no QA/QC samples were included in this specific sampling program. ## Largo Reports Strong Production and Sales in Q1 2026; Files Request for Authorization to Produce and Sell Copper, Platinum Group Metals, Nickel and Cobalt as By-Products of Vanadium Operations; and Announces Sole Chief Operating Officer and General Counsel Promotion - Atlas analysis: [Read analysis](https://atlas-extractions.minestarters.com/news/largo-reports-strong-production-and-sales-in-q1-2026-files-request-for-authoriza--76381d4a-4faf-4add-936d-06da5c08d5bb) · [Markdown](https://atlas-extractions.minestarters.com/news/largo-reports-strong-production-and-sales-in-q1-2026-files-request-for-authoriza--76381d4a-4faf-4add-936d-06da5c08d5bb.md) - Original announcement: 2026-04-14T22:53:00.000Z - Atlas analysis published: Unknown date - Atlas analysis updated: Unknown date - Company: Largo Inc. (LGO) - Original source: [tmx](https://money.tmx.com/en/quote/LGO/news/6410454692651904/largo-reports-strong-production-and-sales-in-q1-2026-files-request-for-authoriza) - Atlas sentiment: 0.499 - Atlas tags: production, metallurgy, permitting, Mill Route, Single Domain Only Largo Inc. reported strong Q1 2026 results, highlighted by a 101.7% increase in vanadium pentoxide production and a 90.8% increase in ore mined. The company also filed a regulatory request in Brazil to formalize the production and sale of copper, nickel, cobalt, and PGMs as by-products, supported by positive metallurgical test results. # Atlas tag definitions - **Bonanza Intercept:** Exceptionally high-grade zone, well above the deposit-type norm. - **Metal Equivalent Opaque:** Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent. - **True Width Disclosed:** Actual thickness perpendicular to structure is stated, not just downhole length. - **Apparent Width Only:** Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. - **QA/QC Disclosed:** Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates). - **Compositing Transparent:** Cut-off grade and internal dilution rules are clearly stated for reported intervals. - **No QA/QC Disclosure:** Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. - **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers. - **Step-Out Extension:** Mineralization extended beyond the previously known limit. - **Infill Drilling:** Confirmatory drilling to raise resource confidence, not new discovery. - **Stale Data Re-release:** Historical results re-announced with no new assays or reinterpretation — low genuine novelty. - **Deleterious Elements Present:** A source-stated penalty, refractory or recovery concern in the fact's scope. Element detection alone, including measured elements explicitly below penalty thresholds, does not trigger this tag. Respect negation and retain a separately stated concern even when another risk is explicitly absent. - **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery. - **Nearology Play:** Value premise rests on proximity to a known deposit rather than own results. - **Measured Resource:** Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. - **Indicated Resource:** Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. - **Proven Reserve:** Measured Resource with demonstrated economic viability after applying modifying factors. - **Probable Reserve:** Indicated Resource with demonstrated economic viability after applying modifying factors. - **Inferred Resource:** Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. - **All Inferred:** M&I share below the weak bound — very early stage, no engineering confidence. - **Tonnage Growth:** Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved. - **Grade Improvement:** Average resource grade improved vs prior estimate — better deposit economics. - **Contained Metal Growth:** True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. - **Category Upgrade:** Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. - **Tonnage Decline:** Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. - **Grade Decline:** Average grade fell below the red-flag bound vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. - **Contained Metal Decline:** Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain. - **Category Downgrade:** Resource confidence decreased — Measured downgraded to Indicated, or Indicated to Inferred. Unusual and concerning. - **Dilutive Growth:** Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion. - **Cut-off Lowered:** Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. - **Cut-off Undisclosed:** Cut-off grade not disclosed — cannot assess comparability to prior estimates or peers. - **Stale Estimate:** Effective date is >2 years old — data currency concern, may not reflect current geological understanding. - **QP/CP Signed:** Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience. - **Cut-off Disclosed:** Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. - **JORC Compliant:** Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard. - **NI 43-101 Compliant:** Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard. - **Historical Estimate Only:** Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. - **No Contained Metal:** Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. - **No QP/CP Disclosure:** No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience. - **Maiden Resource:** First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. - **Resource Update:** Revised estimate for an existing resource — compare to prior to assess progress. - **PEA-Supporting:** Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. - **PFS-Supporting:** Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. - **DFS-Supporting:** Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. - **High Recovery:** Recovery at or above the exceptional band for the commodity and processing route. - **Pilot Scale Complete:** Pilot or demonstration plant testing completed under continuous operation. - **Free Milling:** Simple, clean ore amenable to standard processing without oxidation. - **Multi-Domain Tested:** Variability across ore domains (oxide, transition, fresh) has been addressed. - **Recovery Improving:** Recovery improved versus a like-for-like prior test program on the same domain and route. - **Low Recovery:** Recovery below the weak band for the commodity and processing route. - **Bench Scale Only:** Only preliminary bench tests completed — no locked-cycle or pilot work. - **Refractory Ore:** Complex mineralogy requiring oxidation or other special processing before recovery. - **Single Domain Only:** Testing limited to one composite or domain — representativeness not established. - **Recovery Stagnant:** No improvement across multiple test programs on comparable material. - **Theoretical Recovery Only:** Only theoretical or liberation-derived recovery reported, with no actual test result. - **Heap Leach Route:** Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. - **Mill Route:** Processing via mill or concentrator (CIL, CIP, tank leach, flotation). - **Gravity Route:** Gravity separation forms a material part of the flowsheet. - **POX/BIOX Route:** Pressure or bio-oxidation for refractory ore — high CAPEX and OPEX. - **Byproduct Commodity:** The tested commodity is a byproduct rather than the primary economic driver. - **DFS Bankable:** AACE Class 2-1 study complete and within the staleness window. - **PFS Complete:** AACE Class 3 study complete. - **PEA Only:** Only Class 4 / Initial Assessment economics available. Not bankable. - **No Study:** No formal economic study — no engineering basis for the economics quoted. - **Stale Study:** Beyond the staleness window measured from the estimate base date. - **Inferred Heavy Feed:** Material Inferred share of LOM mill feed, or the share is undisclosed. - **Resource Governance Undisclosed:** No QA/QC, top-cut methodology or QP independence disclosed. Caps study quality at the moderate tier. - **NPV Cut vs Prior Study:** A restated study reduces NPV materially against its own predecessor on the same asset. - **High IRR:** Post-tax real unlevered IRR in the strong tier or better. - **Low IRR:** IRR below the moderate tier. - **Below Jurisdiction Hurdle:** IRR below the greenfield or brownfield hurdle for its jurisdiction tier. - **IRR Basis Undisclosed:** Real vs nominal not stated, so the tier is not comparable across studies. - **Undervalued PNAV:** Funding-adjusted P/NAV in the strong tier or better. - **Overvalued PNAV:** Funding-adjusted P/NAV in the red-flag tier. - **Fast Payback:** Payback in the strong tier or better, on the required basis. - **Slow Payback:** Payback in the weak tier or worse. - **Bottom Quartile Cost:** P0-25 of the relevant commodity cost curve. - **Top Quartile Cost:** P75-100 of the relevant commodity cost curve — first to cut in a downturn. - **Cost Basis Undisclosed:** By-product vs co-product not stated, so quartile placement is unreliable. - **Low Capital Intensity:** Below the benchmark for its project type. - **High Capital Intensity:** Above the benchmark for its project type. - **Conservative Pricing:** Conservative on the worst of the spot, 3-year and consensus comparisons. - **Aggressive Pricing:** The study only works on a stretched price deck. - **No Price Sensitivity:** No price sensitivity disclosed — treated as a deliberate signal, not a neutral gap. - **No Discount Rate Sensitivity:** Blocks NPV normalisation to the common rate without reconstruction. - **Price Deck Unstructured:** Prices given only as free text, so conservatism cannot be scored. - **Long Reserve Life:** Reserve life index in the top tier of the single ladder. - **Short Reserve Life:** Reserve life index in the critical tier. - **Resource Life Upside:** Wide gap between reserve life and resource life — conversion upside rather than discovery dependence. - **Fully Funded:** Funding coverage at or above 1.0x counting committed facilities only. - **Material Funding Gap:** Funding coverage below the substantially-funded band. - **Funding Gap Exceeds Market Cap:** Red flag regardless of headline NPV — the upside is not reachable by the current equity holder. - **Encumbered by Stream:** An existing stream or royalty reduces attributable NAV and restricts future financing. - **Stability Agreement:** Fiscal terms fixed, with a term covering the mine life. - **High Government Take:** Total government take above the regional norm as a share of pre-tax cash flow. - **Fully Permitted:** Key permits granted with no unresolved challenge. - **Permit Challenge Outstanding:** An appeal or legal challenge is unresolved, which can defer first production indefinitely. - **No Community Agreement:** Permits held but no IBA or benefit agreement — the start date is unsupported. - **Closure Underprovisioned:** Closure provision materially below peers, unfunded, or undisclosed. - **Upstream TSF:** Upstream tailings construction, which is banned in Brazil and Ecuador.