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Volt reports strong start to Zavalievsky

6th September 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Graphite miner Volt Resources has produced 846 t of graphite at the Zavalievsky operation, in Ukraine, during the month of August, after production at the mine and processing plant were restarted.

Volt suspended graphite mining and processing operations at Zavalievsky following Russia’s invasion of Ukraine in February this year. In June, the company undertook a A$2-million capital raise to restart operations.

The company on Tuesday said that owing to some staff departures during the extended period of suspension, Zavalievsky has been unable to operate a continuous shift operation, however, the company is recruiting additional staff to enable continuous operations.

Issues with increased working capital from suppliers requiring payment in advance have also impacted availability of operating consumables and maintenance spares. The company is working with Zavalievsky management on the accelerated monetisation of graphite product to resolve these issues.

“We applaud the Zavalievsky management and staff who have successfully brought the mine and processing plant very quickly back into production in extremely challenging circumstances. To achieve the forecast level of production, and to have done so in less than half a month of processing, is highly encouraging,” Volt MD Trevor Matthews said.

“This also shows the opportunity to significantly exceed the full year production target for the Zavalievsky business, and to this end Volt and Zavalievsky management are working to overcome the various factors that disrupted production during August.

“We are confident of improving upon and achieving above-plan production performance in coming months, and Volt looks forward to providing further updates from the Zavalievsky operations in due course.”

Edited by Creamer Media Reporter

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