Largo Announces Leadership Transition: J. Alberto Arias and Daniel Tellechea to Become Co-CEOs and Diogo Silva Promoted to Become CFO All amounts expressed are in U.S. dollars, denominated by “$”
Largo Announces Leadership Transition: J.
Alberto Arias and Daniel Tellechea to
Become Co-CEOs and Diogo Silva Promoted
to Become CFO
All amounts expressed are in U.S. dollars, denominated by “$”
TORONTO--(BUSINESS WIRE)--November 13, 2025--Largo Inc. ("Largo" or the
"Company") (TSX: LGO) (NASDAQ: LGO), one of the world’s largest primary vanadium
producers, is pleased to announce the appointment of J. Alberto Arias and Daniel Tellechea as its
co-Chief Executive Officers effective immediately and the transition of Mr. Arias to Executive
Chairman effective immediately. Mr. David Brace will act as Lead Director.
Largo also announced that Mr. Diogo Silva, who has been with the Company for the past
fourteen (14) years, will be appointed Chief Financial Officer, effective December 5, 2025. Mr.
Silva will succeed David Harris, who after more than 10 years with Largo, will step down as
CFO effective December 5, 2025.
Mr. Arias and Mr. Tellechea will manage the Company through the next phase of operations
with their complementary skill sets and focus on the execution of Largo’s strategy to continue to
reduce costs, diversify revenues and work to refinance its debt.
Mr. Arias commented “I look forward to contributing to Largo my over 30 years of experience,
which has been focused on the investing, financial, and operational aspects of the industry. Largo
plays a critical role in the supply chain of vanadium for the U.S. and Western Nations since
approximately 80% of world’s vanadium supply is produced in China and Russia.” Mr. Arias
added, ”Daniel Tellechea has done a remarkable job reducing operating costs to adapt to an
extended period of low vanadium prices and the more recent effects of large U.S. tariffs and
liquidity constraints. I am excited to work together with Daniel with his invaluable experience in
managing mining assets under challenging market conditions.”
J. Alberto Arias, through the investment funds he manages, has been invested in the Company
since 2010 prior to the mine’s construction. Mr. Arias joined the Largo Board in 2011, and has
been Largo’s Non-Executive Chairman since 2019. Mr. Arias is the founder and portfolio
manager of Arias Resource Capital Management, and director of the General Partner to funds
managed by Arias Resource Capital that are the Company’s largest shareholder. Collectively,
shares held by funds managed by Arias Resource Capital and Mr. Arias represent approximately
37.9% of the basic shares outstanding of the Company after the recent financing completed
October 22, 2025.
Largo would like to thank Mr. Harris for his valuable contributions to Largo over the past decade
at Largo. Mr. Silva is currently the Finance Director of the Company’s subsidiary, Largo
Vanádio de Maracás S.A. (“LVMSA”) and has been instrumental in the Company’s negotiations
with its lenders to defer debt principal payments until September 2026.
About Largo
Largo is a globally recognized supplier of high-quality vanadium and ilmenite products, sourced
from its world-class Maracás Menchen Mine in Brazil. As one of the world’s largest primary
vanadium producers, Largo produces critical materials that empower global industries, including
steel, aerospace, defense, chemical, and energy storage sectors. The Company is committed to
operational excellence and sustainability, leveraging its vertical integration to ensure reliable
supply and quality for its customers.
Largo is also strategically invested in the long-duration energy storage sector through its 50%
ownership of Storion Energy, a joint venture with Stryten Energy focused on scalable domestic
electrolyte production for utility-scale vanadium flow battery long-duration energy storage
solutions in the U.S.
The Company also holds a 100% interest in the Northern Dancer Tungsten-Molybdenum
property located in the Yukon Territory, Canada and 100% interest in the Currais Novos
Tungsten Tailing Project near Natale Brazil. Preliminary economic assessments were completed
for each asset in 2011.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange
under the symbol "LGO". For more information on the Company, please visit
www.largoinc.com.
Cautionary Statement Regarding Forward-looking Information:
This press release contains “forward-looking information” and “forward-looking statements”
within the meaning of applicable securities legislation. Forward‐looking information in this
press release includes, but is not limited to, the ability of the Company to continue as a going
concern; and the ability for the Company to keep the Maracás Menchen Mine operating, thereby
significantly improving the Company’s financial situation.
Forward-looking statements can be identified by the use of forward-looking terminology such as
“plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of
such words and phrases or statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will be taken”, “occur” or “be achieved”, although not all forward-
looking statements include those words or phrases. In addition, any statements that refer to
expectations, intentions, projections, guidance, potential or other characterizations of future
events or circumstances contain forward-looking information. Forward-looking statements are
not historical facts nor assurances of future performance but instead represent management’s
expectations, estimates and projections regarding future events or circumstances. Forward-
looking statements are based on our opinions, estimates and assumptions that we considered
appropriate and reasonable as of the date such information is stated, subject to known and
unknown risks, uncertainties and other factors that may cause the actual results, level of activity,
performance or achievements of Largo to be materially different from those expressed or implied
by such forward-looking statements, including but not limited to those risks described in the
annual information form of Largo and in its public documents filed on www.sedarplus.ca and
available on www.sec.gov from time to time. Forward-looking statements are based on the
opinions and estimates of management as of the date such statements are made. Although
management of Largo has attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. Largo does not undertake to update any
forward-looking statements, except in accordance with applicable securities laws. Readers
should also review the risks and uncertainties sections of Largo’s annual and interim MD&A
which also apply.
Trademarks are owned by Largo Inc.
Contacts
For further information, please contact:
Investor Relations
Daniel Tellechea
Co-CEO & Director
+1.416.861.9778