- Volt Resources (VRC) secures an offtake partner for future graphite product from its Bunyu project in Tanzania
- Through a binding agreement, Hong Kong- and New York-listed Graphex will buy 10,000 tonnes of Volt’s fine flake graphite product per year
- The deal is for an initial five-year term, once production begins, with an option to extend for a further five years subject to a mutual agreement
- Volt says with projected strong demand in the graphite market, it will continue negotiations with other parties for coarse graphite offtakes from Bunyu
- VRC shares are up 9 per cent trading at 1.2 cents at midday AEDT
Volt Resources (VRC) has secured an offtake partner for future graphite product from its Bunyu project in Tanzania.
Through a binding agreement, Hong Kong- and New York-listed Graphex will take up 10,000 tonnes of Volt’s fine flake graphite product per year for an initial five-year term from the start of production.
The deal has the option to extend for a further five years, subject to mutual agreement.
Volt CEO Prashant Chintawar said with projected strong demand in the graphite market, the company was negotiating with other parties for coarse graphite offtakes produced from the stage one Bunyu project.
Graphex is a volume producer of spherical graphite for lithium-ion batteries. The company’s President, John DeMaio, said Graphex was “extremely pleased” to be partnering with Volt.
“This is an important step forward in our global strategy to diversify the upstream supply of raw materials as we localise our mid-stream processing footprint in order to provide the flexibility, resiliency, and scale of graphite supply that the EV and Energy Storage sectors will require in the years and decades ahead,” Mr DeMaio said.
VRC shares were up 9 per cent trading at 1.2 cents at midday AEDT.