ASX-listed graphite producer and battery materials developer Volt Resources is in active discussions with Tanzania’s Ministry of Minerals to finalize a shareholder agreement and framework for the Bunyu graphite project. This represents a significant step in securing a strong position within Tanzania’s burgeoning graphite industry.
These negotiations are part of Volt’s broader strategy to establish a compliant supply chain under the US Inflation Reduction Act, ensuring that the Bunyu project aligns with global standards for sustainable battery materials production.
Interest in Volt’s Bunyu project has grown, particularly after a large anode producer requested a bulk sample of 200-300 kg of graphite concentrate.
This follows successful tests on a smaller 1 kg sample, highlighting the potential of Bunyu’s graphite to meet industry demands.
Volt is now planning the next phase of development, which includes additional drilling and sample extraction.
Meanwhile, at the Zavalievsky graphite operations in Ukraine, Volt has enhanced its technological capabilities with the acquisition of a specialized chemical reactor.
This reactor will play a crucial role in optimizing the bench-scale production of high-purity graphite using Volt’s proprietary technology. However, the continuation of this technical plan is contingent on securing the necessary funding.
In the US, Volt Energy Materials is seeking further funding to advance its operations. Following positive feedback on a concept paper, Volt submitted two non-dilutive funding proposals to the US government.
While decisions were expected in August, the US Department of Energy has yet to announce the results, with Volt anticipating a delay of several weeks.
Volt is also finalizing additional financing to support ongoing discussions with potential customers interested in high-purity graphite and graphite anode samples.