Volt Resources Secures $0.5M Funding to Boost Graphite Projects in U.S. and Tanzania Amid Rising Global Demand
ASX-listed Volt Resources has drawn the first A$0.5 million tranche from its A$1 million funding facility with RiverFort Global Opportunities, as the company intensifies development at its graphite projects in the United States and Tanzania.
The funding will be used to support pilot plant trials and development of Volt’s planned graphite refinery in Alabama, progress its flagship Bunyu project in Tanzania, and cover general corporate and operational costs.
The remaining A$0.5 million from the agreement, originally announced in April 2024, remains available to the company.
Volt reported on Tuesday that its Alabama graphite refinery has now commenced pilot testing, following a favorable scoping study that confirmed robust project economics.
The facility is designed to produce high-purity graphite—a critical material used in the anodes of lithium-ion batteries.
The company is currently engaging with potential offtake partners, exploring financing options, and consulting with U.S. government bodies as it works to establish a key domestic supply chain for battery-grade graphite.
“Volt continues to advance its graphite strategy with upstream development at Bunyu and downstream purification at our planned Alabama refinery,” said Executive Chairperson Asimwe Kabunga.
“Given the U.S. government’s growing commitment to domestic critical minerals processing and reducing reliance on Chinese supply chains, the current geopolitical landscape is increasingly favorable for our development plans.”
Volt’s other major focus remains the Bunyu graphite project in Tanzania—one of the largest graphite deposits in the country.
Strategic partnership discussions are ongoing to progress Stage 1 of the project. Current negotiations aim to optimize the project’s economics by reducing capital and operating costs in response to softer global pricing for natural graphite.
The company sees the Bunyu project as a cornerstone of its upstream supply strategy, complementing the downstream processing planned in the U.S.
Volt’s market positioning has been strengthened by recent U.S. policy moves. A 93.5% anti-dumping duty was recently imposed on Chinese active anode material (AAM), bringing the total effective tariff on these imports to approximately 160%. This shift is expected to reshape global battery material supply chains.
“The introduction of this unprecedented duty marks a pivotal moment for the battery materials industry,” Kabunga said.
“It reinforces the need for secure, non-Chinese supply chains to support North American and European battery production. This development aligns perfectly with Volt’s strategic focus in the U.S. and Tanzania.”
Kabunga added that Volt’s portfolio—which includes projects in the U.S., Tanzania, and Ukraine—positions the company to be a key player in reshaping global battery supply chains.
“As the U.S., Europe, and global industry partners respond to evolving geopolitical dynamics with new incentives, tariffs, and critical mineral policies, Volt is uniquely positioned to deliver secure, high-quality graphite supply from outside China’s sphere of influence.”
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