Volt buys Ukraine graphite mine
PERTH (miningweekly.com) – ASX-listed Volt Resources has pulled the trigger on the acquisition of a 70% interest in the Zavalievsky graphite business, in the Ukraine, following a positive due diligence.
The company last month inked share purchase agreements (SPAs) with the existing shareholders of ZG Group to acquire a 70% interest in each of the companies comprising the group, including Zavalievsky Graphite, Stone Found and Graphite Invest.
The ZG Group holds a 79% interest in 636 ha of land on which a graphite mine, processing plant and other facilities are located. The group currently has plans to install a processing plant and equipment to start producing spheronised purified graphite for the anode market within the next 12 months.
Under the SPAs, Volt would acquire the 70% interest in the ZG Group for an aggregate purchase price of $7.6-million, which will be payable in two installments of $3.8-million each, with the first payment due at the completion of the transaction and the second six months thereafter.
Volt told shareholders on Friday that the acquisition of a controlling interest in the ZG Group would immediately transform the company into one of the few ASX-listed graphite producers.
The acquisition holds a number of advantages, including its close proximity to Eastern European markets, plans to produce battery anode material by using existing graphite production to become a fully integrated supplier, ZG Group’s range of graphite products and its high value ‘green’ purified 99.5% total graphitic carbon product.
Volt said on Friday that it was reviewing a number of debt proposals to fund the first $3.8-million installment of the purchase price, with is due on completion of the transaction, with the second installment due six months later.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
