PERTH (miningweekly.com) – ASX-listed Volt Resources has struck a binding offtake agreement with graphite products producer Qingdao Baixing Graphite Co for the sale of 12 000 t/y of flake graphite from the Bunyu project, in Tanzania.
The offtake agreement will increase to 90 000 t/y of flake graphite product from the third year of the five-year offtake term.
“We are very pleased to secure this significant binding sales agreement for our Bunyu coarse flake product, and we are delighted to be partnering with such a highly respected company as Qingdao Baixing Graphite Co,” said Volt chairperson Asimwe Kabunga.
“This second binding offtake agreement is a strong validation of the confidence in Volt’s Bunyu graphite project and Volt looks forwards to a long and successful relationship with the Qingdao Baixing Graphite Co.”
Volt recently signed a 10 000 t/y offtake agreement with battery anode material producer Graphex Group, with the offtake spanning an initial five-year term, meaning that all the fines product from the Stage 1 Bunyu project has been accounted for.
Stage 1 study was based on a mining and processing plant with a throughput rate of 400 000 t/y of ore to produce an average 23 700 t/y of graphite products. The Stage 1 project is aimed to establish Volt’s market position and infrastructure to support the development of the larger Stage 2 expansion project, which will increase production to 170 000 t/y of graphite product yearly.