ASX-listed graphite producer and natural graphite anode developer Volt Resources says a portion of graphite ore from its 100%-owned Bunyu graphite project, in Tanzania, that was recently processed into graphite concentrate, has met the requirements specified by the customer.
The customer had set specifics in terms of particle size, particle size distribution, density, moisture and carbon content.
Volt is negotiating commercial terms with the large customer to enable financing for Bunyu.
The company mined 113 t at the project last year, to meet the customer’s request for a large quantity of graphite concentrate sample. Over the last few weeks, the ore was converted into graphite concentrate.
This concentrate was subsequently delivered to the customer for evaluation on January 17, with feedback expected before March 29.
“Obtaining funding for the Bunyu project continues to be a top priority for Volt, and we're happy to report significant advancements in this objective. We have successfully mined sample ore at Bunyu, secured export permits, shipped ore and, more recently, produced concentrate according to customer requirements, and delivered samples of this for assessment.
“We anticipate a successful qualification by the customer, which will assist in securing financing. China’s move late last year in restricting graphite exports is helping drive progress with the Bunyu project, and we are optimistic about a favourable outcome. We will keep investors informed with updates as developments unfold,” Volt MD and CEO Prashant Chintawar says.