Join our daily newsletter At The Bell to receive exclusive market insights
- Over December, Volt Resources (VRC) increased production at the Zavalievsky graphite mine in Ukraine by 44 per cent on November
- A total of 807 tonnes of graphite product was produced over the month, at an average of 50 tonnes of product per operating day
- However, ore mined for the period was lower when compared to the prior month as the company focussed on mining of waste
- Production was impacted by equipment quality issues and also cold temperatures over the winter months, and Volt expects production to increase as the weather warms
- Shares last traded grey at 2.7 cents
Over December, graphite producer and battery anode material developer Volt Resources (VRC) increased production at the Zavalievsky graphite mine in Ukraine by 44 per cent on November numbers.
A total of 807 tonnes of graphite product was produced over the month, at an average of approximately 50 tonnes of product per operating day.
Ore mined for the period, however, was lower when compared to the prior month as the company focussed on the mining of waste at a level required for appropriate open pit mine development.
On December 16, the company reported waste mined in November was below the level required for appropriate open pit mine development and began contracting mining groups for waste removal.
Evaluation of the use of contract mining for waste removal is continuing, due to the increased material movement required in the next 12 months.
Mobile equipment availability was impacted by the age of the equipment which affected ore production and the company is looking to replace the existing mining fleet in an attempt to improve future mined graphite ore production.
Plant operations were also more susceptible to disruptions during the winter months, as very low temperatures can freeze water pipelines and tailings material in pipelines.
Replacement with insulated piping and other options are being evaluated to provide a permanent solution which the company expects will result in significantly higher graphite production levels during the winter months.
Volt said with the end of winter in sight and temperatures rising, there will be more plant operating days, resulting in substantial increases in monthly graphite production.
Shares last traded grey at 2.7 cents at 10:21 am AEDT.
