Tanzanian focused flake graphite development company Volt Resources Limited has changed the name of its operating subsidiary in Tanzania to Volt Graphite Tanzania Limited (VGT) from Nachi Resources Limited.
According to the company, the decision was made to ensure a clear relationship between VGT and its parent company Volt and to eliminate any confusion with other companies operating in Tanzania.
“It is important to reiterate this is purely a name change and does not change VGT’s assets or financial position,” said Trevor Matthews, Chief Executive Officer of Volt Resources.
He further said Volt’s flagship project will now be referred to as the Bunyu Graphite Project and no longer the Namangale Graphite Project.
Matthews said Volt has to date experienced no material adverse impact following recent legislative changes to the mining legislation in Tanzania, and the Company expects to provide further updates on corporate and operational progress shortly.