Volt Resources has signed binding Share Purchase Agreements (SPA) to acquire a 70% interest in the Zavalievsky group of companies.

The graphite mine and processing facilities are located adjacent to the town of Zavallya, approximately 280 km south of the Ukraine capital Kyiv and 230 km north of the main port of Odessa.

Volt Resources’ MD, Trevor Matthews comments:

“The signing of the binding Share Purchase Agreements is a significant step forward for Volt in its ambition to be a graphite producer.


“The acquisition of a controlling interest in the ZG Group positions Volt years ahead of its peer graphite companies and without the usual development risks associated with a greenfield project.”

“As previously stated by Volt’s Chairman, Asimwe Kabunga, this is a rare opportunity to acquire an existing graphite business located in Europe at a fraction of the development cost of a new project.

“Following Volt’s recently announced membership of the European Battery Alliance providing Volt with access to business development opportunities and a business investment platform, the ZG Group acquisition has the potential to make Volt a key participant in the supply of graphite and battery anode materials into the growing European market with excellent access to other markets in the USA and Middle East.”


  • Volt has entered into binding Share Purchase Agreements to acquire a 70% interest in the Zavalievsky Graphite business located in the Ukraine
  • The completion of the acquisition will position Volt significantly ahead of most of its peer graphite companies to become a graphite producer without the usual greenfield financing and development risk

Key features of the Zavalievsky Graphite business include:

  • Production of graphite products to supply traditional European industrial markets including refractories, electrodes, lubricants, gaskets/seals, brake linings, etc.
  • Potential to become a producer of spherical purified graphite for Li-ion battery anode market in the near term
  • Other existing and potential positive cash flow generating mineral products from the graphite mine, including production of crushed rock for use in road construction and concrete as well as industrial grade garnet
  • Excellent transport infrastructure with direct access to road and rail, nearby river transport and ocean freight through the main Ukraine port of Odessa
  • Low labour costs, grid power, ample potable water and good communications
  • Experienced technical, operations and marketing personnel The Zavalievsky Graphite business also has a 79% interest in 636 ha of land upon which the mine, processing plant, other buildings and facilities are located
  • Opportunity to become a key participant in the European EV battery value chain leveraging the benefits of membership of the European Battery Alliance
  • Total purchase price of US$7.6 million, payable in two equal amounts
  • Acquisition remains subject to completion of satisfactory due diligence enquiries