BEIJING (Asian Metal) 6 May 20 – On May 1, Canadian-based Largo Resources Ltd. announced that in accordance with its notice given on August 20, 2019, the Company’s off-take agreement with Glencore International AG has expired effective April 30, 2020.
Paulo Misk, President and Chief Executive Officer for Largo, stated: “Following the expiration of its off-take agreement, the Company’s sales and trading team is fully dedicated to the promotion and sales of Largo’s products. We have assembled a very strong commercial team at Largo who has committed approximately 85% of the Company’s annual guided sales for 2020. We expect the balance of production will be sold in the spot market and be used to build safety stocks in strategic regional hubs.”
Sales and trading team have been fully operational out of its two commercial offices in Dublin, Ireland and Washington DC, USA.
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