Volt Resources, through its subsidiary Volt Graphite Tanzania, has signed a cooperation agreement with one of China’s largest graphite companies, HAIDA Graphite.
This follows the company participating in discussions and negotiations with several Chinese groups in regards to securing additional binding offtake agreements for the its Bunyu graphite project.
Under the agreement, Volt Graphite Tanzania (VGT) and HAIDA will exchange relevant information and conduct testing on VGT’s graphite product samples, as both parties look to build a working relationship for the future supply and purchase of Bunyu graphite product.
HAIDA has extensive mining, processing and sales experience, producing and supplying a range of graphite products to customers in China and international markets including Japan, Korea, the US and Western Europe.
Further discussions with other potential offtake partners are also advancing well and the Volt Resources looks forward to providing further updates on offtake agreements in due course.
CEO of Volt Resources, Trevor Matthews, comments:
“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.
“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.”