Largo Inc. (NASDAQ: LGO) announced a production strategy shift toward higher-margin products, an update on copper-platinum group metal operations, and progress on debt restructuring, according to a company press release dated September 23, 2026.

Recent sales of copper-PGM concentrates generated approximately $4.7 million in revenue at an operating profit margin above 90%, which the company said makes it the highest-margin product from its operations. Largo is evaluating an internal engineering study that could potentially double copper-PGM concentrate production capacity in 2027. Current production targets for the concentrate remain at approximately 300 to 380 tonnes per month.

The company said an optimization study indicated capacity to raise high-purity vanadium output to approximately 68% of total vanadium production. Under the revised plan, overall vanadium pentoxide output is expected to trend toward approximately 876 tonnes per month, near the low end of current guidance, compared with approximately 1,000 tonnes per month at the upper end. Largo said the lower output rate is expected to be offset by higher pricing and margins from the higher-purity product mix.

High-purity vanadium represented approximately 4% of Largo's vanadium production in the first half of 2026. Vanadium oxides are currently exempt from applicable U.S. import tariffs. Largo said it has produced and shipped its first high-purity vanadium pentoxide material for the U.S. Defense Logistics Agency and is completing production of a second shipment.

On debt restructuring, Largo executed a definitive agreement with Banco do Brasil, its largest commercial bank creditor. Combined with a previously announced agreement with Caixa Econômica Federal, the company has now finalized restructuring agreements covering approximately 48% of its $82 million in commercial bank senior debt. Largo said it continues to work with remaining lenders to complete additional definitive agreements.

The company also said it is conducting metallurgical test work evaluating potential ilmenite recovery from tailings generated after copper-PGM flotation processing, supported by interest from Brazilian customers.