Largo Iron Ore Sale Deal Hit by Initial Payment Delays

Largo, a mining company, has reported that the initial payment for its iron ore sale agreement has not been received, prompting the company to consider terminating the contract. The deal was worth $56 million and was announced last month. The purchaser's failure to make the initial payment has resulted in a decline in Largo's stock price, which was down 2.1% in pre-market trading on Thursday.