Critical minerals and battery materials company Volt Resources has submitted multiparty bids for nondilutive funding that have the potential to deliver more than A$150-million to the company.
Volt, which has graphite mining interests in Ukraine and Tanzania, is aiming to build an integrated graphite business that will supply flake and processed graphite to customers in North America and Europe.
The proposals for nondilutive funding include a submission by Volt subsidiary Zavalievsky Graphite (ZG) for a cost-reimbursable, multiyear programme focused on graphite processing. If successful, ZG could receive up to €2.4-million.
Volt Energy Materials (VEM), as part of a large consortium of organisations, has submitted a proposal for a cost-reimbursable, multi-year programme to design, construct and commission a 10 250 t/y integrated coated spheriodised purified graphite or natural graphite anode powder plant in Tuscaloosa, Alabama, in the US. This could yield net funding of more than $100-million.
VEM also submitted a proposal for a cost-reimbursable programme on critical materials processing, which could offer $1-million.
Further, VEM has initiated discussions with the US government for an additional multiyear, multimillion-dollar programme on graphite processing.
“Volt has made strong progress over the last quarter as it focuses on leveraging the increased demand for graphite and markets seeking to diversify supply chains to support the EV industry. With two mines representing some of the world’s largest supplies of graphite and the progression of our planned graphite anode manufacturing facility in Alabama, US, I believed we are well-placed to capitalise on this opportunity,” said executive chairperson Asimwe Kabunga.