Graphite producer and battery materials developer Volt Resources Limited (ASX: VRC) has made strong progress with testwork and BAM supply discussions progressing in the United States with a number of entities engaged in both the electric vehicle and stationary storage industry.
Volt Managing Director, Trevor Matthews, said negotiations have also progressed with a multinational engineering firm to commence feasibility studies for the BAM facilities to meet the future demand from battery manufacturers.
“Volt is accelerating its battery anode material offtake discussions and testwork in the United States in the rapidly growing lithium-ion battery EV and energy storage market which is seeking local production capability,” Mr Matthews said.
Testwork activities and related offtake discussions have advanced from understanding Volt’s future production plans with potential customers now asking, “How Much Can Volt Supply Us in 2025?”.
“The formation of Volt Energy Materials LLC will help coordinate the company’s business development activities as Volt progresses battery materials supply discussions with battery manufacturers in addition to advancing the commencement of graphite battery materials production feasibility studies with a global engineering firm,” Mr Matthews said.
Volt has formed a US subsidiary, Volt Energy Materials LLC, which will be the entity within which the various graphite battery materials businesses will be incorporated including the battery anode materials, and the alkaline and lead-acid battery products.
Funding submissions for US government support to assist the development and expansion of the electric mobility and energy storage supply chain are required to be submitted by US entities.
Volt is progressing the development of its large wholly-owned Bunyu Graphite Project in Tanzania, as well as gold exploration in Guinea leveraging the vompany’s existing extensive networks in Africa.
The Bunyu Graphite Project is ideally located near to critical infrastructure with sealed roads running through the project area and ready access to the deep-water port of Mtwara 140km from the Project. In 2018, Volt reported the completion of the Feasibility Study (FS) into the Stage 1 development of the Bunyu Graphite Project.
The Stage 1 development is based on a mining and processing plant annual throughput rate of 400,000 tonnes of ore to produce on average 23,700tpa of graphite products. A key objective of the Stage 1 development is to establish infrastructure and market position in support of the development of the significantly larger Stage 2 expansion project at Bunyu.
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