Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) has noted an update to the Life of Mine Plan and Pre-Feasibility Study completed on the Maracás Menchen vanadium-titanium operation in Bahia State, Brazil by owner Largo.
The highlights of the LOMP and Pre-Feasibility Study include a thirteen-year increase in the reserve-based mine life (out to 2054) and a 67% increase in Mineral Reserves.
Ecora has a 2% Net Smelter Return royalty on all mineral products from the area of the mine to which the royalty interest relates.
Vanadium is used as a steel hardening additive and for long-life industrial batteries.
Shares in Ecora eased to 63.4p.