Tanzania – Progress has been made with regards to its environmental and social impact assessment (ESIA) and mining licence application at Bunyu.
The ESIA report is expected to be finalised within the next few weeks and lodged with the Minister of Environment. The completion of this process is a key step towards submission of the mining licence application for Stage 1 production at Bunyu – which Volt expects to lodge before calendar year end.
Offtake agreement update
Moreover, Volt Resources has made significant progress with regards to progress with two potential Chinese offtake customers.
Volt confirms positive discussions are progressing with China National Building Materials General Machinery and Guangxing Electrical Materials.
Product samples have been sent to both groups to enable independent testing on the Bunyu graphite product, with additional samples also being arranged for Volt’s other off-take partners, including AOYU Graphite Group.
Assuming the product test work is successful, then offtake agreements totalling 15 000 – 20 000 tpa could be confirmed in the fourth quarter.
Furthermore, Volt is undertaking process flowsheet test work in conjunction with Battery Limits and its partner Shandong Xinhai Mining Technology and Equipment Inc in China to optimise the processing and grade/recovery for graphite products.
This test work builds on the knowledge gained from graphite market end-users about their product requirements and is being incorporated into the Bunyu project flowsheet design.
Project development funding update
Management continues to progress project development funding discussions with potential financiers in the Middle East and with other financial institutions globally. Volt Resources CEO Trevor Matthews visited Dubai and Muscat in late July as part of this process.
“Volt is fast-tracking the Stage 1 Development of our Bunyu graphite project, with a pathway now in place to have the project in production within the next 12-18 months.
“Product testing is well underway and we are advancing with our Chinese partners in a cooperative manner. Our aim is to materialise these relationships into binding offtake agreements in the vicinity of 15 000 – 20 000 tpa, underpinning the Stage 1 Development of Bunyu,” says Matthews.