Volt Resources subsidiary Volt Graphite Tanzania has signed a cooperation agreement with HAIDA Graphite – one of China’s largest graphite companies.
Volt Resources has been in talks with many Chinese groups to secure binding agreements for its Bunyu Graphite Project.
Volt Graphite Tanzania and HAIDA will exchange relevant information and conduct tests on Volt’s graphite samples.
HAIDA has experience in mining, processing, and sales. It produces and supplies a range of graphite products to customers in China and international markets, including Japan, Korea, the United States, and Western Europe.
Volt Resources is looking for more offtake partners and says discussions with other companies are going well.
CEO of Volt Resources, Trevor Matthews, said: “I am pleased to report that our amended prospectus has now been lodged with the relevant authorities in Tanzania, and we are now moving closer towards the issuance of the prospectus to sophisticated investment groups in key East African financial markets.”
He added: “Whilst in the early stages, our cooperation agreement with HAIDA serves as a precursor to the signing of a potential offtake agreement in due course, and we are very pleased to be working with another of the major graphite players in China.
It is clear that Volt Resources is continuing to receive very positive feedback from a number of parties regarding demand for Bunyu’s coarse flake graphite product which holds us in very good standing as we target the start-up of Stage 1 production and subsequent large-scale Stage 2 expansion.”
This is Volt Resources’ second deal in August. At the beginning of August, Volt Graphite Tanzania signed a binding offtake agreement with Qingdao Tianshengda Graphite in China.
Under the agreement, Volt Graphite will supply 9,000 tpa of Bunyu graphite to Tianshengda for five years.
The agreement with Tianshengda includes the size ranges of the products to be produced in Bunyu’s stage 1 development and stage 2 expansion. It includes the option to extend the deal for another five years if both parties agree.