Volt Resources has received positive feedback from its Bunyu Graphite Project in Tanzania.
The Chinese offtake partner – China National Building Materials General Machinery’s (CNBMGM) said Bunyu products meets all her requirements.
Trevor Matthews, Volt’s Chief Executive Officer is optimistic though final results from the CNBMGM test work program are expected in the coming weeks.
“Our relationship with CNBMGM continues to progress very well and although still in the early stages we are excited about the prospect of potentially partnering with one of the world’s largest building materials suppliers”.
“The fact that Volt’s Bunyu graphite product continues to be validated as premium quality is highly encouraging and we are now working hard to materialise a number of these off-take opportunities in the near-term,” Matthews said.
Volt entered into a non-binding cooperation agreement with CNBMGM in June 2017 which outlined the framework for CNBMGM to become an off-take partner and to provide Volt with project engineering/construction and financing support towards the development of the Bunyu Graphite Project.
CNBMGM is one of the world’s largest building materials producers, consumers and sellers and would provide Volt with significant leverage into the global expandable graphite market should a binding off-take agreement materialise.
The cooperation agreement is an important pre-cursor to the signing of a binding off-take agreement with CNBMGM, with the agreement providing for the potential offtake of 10,000-15,000tpa of graphite concentrate from stage one production.