Largo Inc. (NASDAQ: LGO) has received approval from Brazil's National Mining Agency (ANM) to produce and sell copper concentrates with platinum group metals (PGM) as by-products at its Maracás Menchen Mine in Bahia, Brazil, the company said in a press release.

The approval allows Largo to produce copper, PGM, nickel, and cobalt alongside its existing vanadium, titanium, and iron output. The company is now beginning the ramp-up of copper-PGM concentrate production using its existing ilmenite flotation infrastructure, and is temporarily suspending ilmenite (titanium) concentrate production to maximize copper-PGM output.

Industrial-scale flotation tests conducted earlier this year demonstrated the potential technical and commercial viability of recovering copper-PGM concentrates containing platinum, gold, palladium, silver, cobalt, and nickel from the existing vanadium ore processing plant.

Largo said it is currently discussing commercial terms for a potential first shipment of copper-PGM concentrates with smelters and traders. The company expects copper-PGM production, if successfully ramped up and commercialized, to generate higher profit margins than ilmenite.

The company also said it plans to evaluate additional equipment requirements to potentially resume ilmenite production from copper concentrate flotation tailings, in collaboration with existing ilmenite customers.

Largo expects to provide production and sales guidance for copper-PGM concentrates with its quarterly earnings report scheduled for August 14, 2026.

Alberto Arias, Executive Chairman and Co-Chief Executive Officer, said the opportunity "recovers valuable critical elements from our vanadium ore processing plant and uses infrastructure and mining activities already in place."

Co-Chief Executive Officer Jim Bannantine noted the company moved from discovery of the copper-PGM opportunity in late 2025 to production start-up within a few months.