Breaking News
Get 40% Off 0
🔎 See NVDA's full ProTips for an instant risks or rewards Claim 40% OFF

Volt Resources nears key deal to boost Bunyu Graphite Project amid global supply concerns

Published Nov 28, 2023 11:50 Updated Nov 28, 2023 12:00
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Volt Resources nears key deal to boost Bunyu Graphite Project amid global supply concerns

In a strategic move to capitalise on the global graphite market dynamics, Volt Resources Ltd (ASX:VRC, OTC:VLTRF) has made strong progress with financing negotiations for its wholly-owned Bunyu Graphite Project in Tanzania.

The company's actions come in the wake of China's recent decision to restrict graphite exports, a move that has significantly amplified interest in alternative graphite sources, such as the Bunyu project.

Volt is negotiating commercial terms with a large customer to enable financing for Bunyu.

To meet the customer’s request for a large quantity of graphite concentrate sample, the company has mined 113 tonnes of graphite ore for processing.

The ore will be processed into graphite concentrate for customer delivery by the end of the year.

Priority task

Volt managing director and CEO Prashant Chintawar said: “Securing financing for the Bunyu project remains one of our priority tasks and we are pleased to announce the company is making meaningful progress.

“Having selectively mined 113 tonnes of ore and sent it to port, we look forward to shipping it for processing to the pilot plant and qualification by the customer.

“The recent news of China’s move to restrict graphite exports has added extra impetus to advancing Bunyu and we are confident of a successful process.

“We look forward to updating investors as news warrants.”

Issued export permits

To deliver a large quantity of graphite concentrate sample, Volt identified the location for mining, secured necessary approvals from Tanzanian Government officials and the community, rented the mining equipment and mined about 113 tonnes of graphite ore.

The ore was transported by trucks from the site to Dar es Salaam, where it has been tested by Government officials who have issued export permits.

Forward plan

To produce a testable graphite concentrate, some of the ore will be shipped by November 30 to a competent graphite ore processing pilot plant.

Volt personnel will oversee the ore processing to ensure a desired quantity and quality of graphite concentrate will be delivered to the prospective customer before the year's end.

The company remains confident that the successful completion of product qualification and negotiation will enable it to secure Bunyu financing.

Read more on Proactive Investors AU

Disclaimer

Volt Resources nears key deal to boost Bunyu Graphite Project amid global supply concerns
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email