Volt Resources Ltd, the graphite producer and developer of natural graphite anodes announced that has followed up positive results by conducting further tests on graphite samples from the Bunyu Graphite Project in Tanzania.

According to a statement issued yesterday by Volt Resources, a consignment of Bunyu graphite concentrate was delivered to a customer-designated testing partner in January this year.

Prior to shipping the sample, Volt has ensured that it met the requirements specified by the customer via analysis conducted by a reputable institute.

This pre-shipment analysis verified the particle size, distribution, density, moisture content and carbon content of the graphite.

“Over the past three months, the customer-designated testing partner has conducted testing of the Bunyu sample,” said Volt Resources in a statement.

Volt said the testing confirmed there was an excellent match between its results and those obtained by the customer-designated testing partner.

The current focus is on optimising the surface area of the graphite, a critical factor in enhancing the efficiency and cost-effectiveness of graphite anode production.

A refined sample will be sent for further evaluation soon.

Following further customer interest, Volt has also provided detailed documentation related to the Bunyu project.

This includes the feasibility study, cost estimates, details of the process plant, implementation schedule, hydrology and metallurgical studies, as well as reports on the tailings storage facility and the environmental and social impact.

Volt said that it remains committed to building a supply chain that aligns with key legislation such as the US Inflation Reduction Act and Europe's Critical Minerals Act.

This strategy underscores the company’s dedication to meeting the stringent requirements of its target customers and supports the ongoing evaluation and data exchange essential for advancing the Bunyu project.

The company further said that during the half-year ended 31 December 2023, on the downstream side, the focus was to further its development of natural graphite anode, secure commercial and production partnerships and create a robust non-dilutive funding pipeline. 

On the upstream side, the company published a revised and much improved feasibility study for the Bunyu Stage 1 project, mined over 100 tonnes ore for samples at Bunyu and sent for customer evaluation. 

The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. 

In August 2023, Volt reported the completion of the revised Feasibility Study (“FS”) for Stage 1 development of the Bunyu Graphite Project. The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 24,780 tpa of graphite products. 

Key objectives of Stage 1 development are to establish Bunyu Graphite Project as a world-class supplier of graphite products, grow Volt’s existing natural flake graphite business, provide cashflow, and establish infrastructure in support of the development of the significantly larger Stage 2 expansion project. 

Stage 1 is based on a mining and processing plant throughput rate of 400 ktpa of ore to produce on average 24,780 tpa of graphite products, positioning Volt as a dominant participant in the global flake graphite market.

In November 2023, the US Department of Energy announced US$ 3.5 billion in grants for Battery Materials Processing and Battery Manufacturing. 

In response to this opportunity, the Company’s subsidiary, Volt Energy Materials LLC, is creating a consortium to submit a Concept Paper in January 2024 and Full Proposal in March 2024