Graphite producer and battery materials developer Volt Resources Limited (ASX: VRC) has executed a binding Offtake Agreement for the sale of 10,000t of fine flake graphite product annually from the Bunyu Graphite Project in Tanzania.
The initial term is for five years with the option to extend the Offtake Agreement for a further five years.
The Offtake Agreement was signed by 100% Volt subsidiary, Volt Graphite Tanzania Plc, with Graphex Group subsidiary, Graphex Michigan 1, LLC. a subsidiary of Graphex Group Limited.
Graphex Group President, John DeMaio, said his company was extremely pleased to enter into this binding Offtake Agreement for the supply of fine graphite from the Bunyu Graphite project.
“This is an important step forward in our global strategy to diversify the upstream supply of raw materials as we localize our mid-stream processing footprint in order to provide the flexibility, resiliency, and scale of graphite supply that the EV and Energy Storage sectors will require in the years and decades ahead. We look forward to working with Volt as we both progress our graphite development plans and the possibility of expanding our relationship.”
Volt CEO, Prashant Chintawar, said that with projected strong demand in the graphite market, Volt is continuing to progress discussions with additional parties in respect to further graphite offtake opportunities.
“Looking ahead, Volt remains firmly focused on obtaining the development funding for the Bunyu Project and moving towards construction and first production. We look forward to providing shareholders with further updates on progress,” he said.
For further information please visit: https://voltresources.com/