Graphite and gold explorer and developer Volt Resources is set to acquire a 70% interest in the Ukraine-based Zavalievsky Graphite business (ZG Group) for approximately A$10 million.
Located in Eastern Europe, the Zavalievsky Graphite business is in close proximity to key markets with significant developments in Lithium-ion Battery (LIB) facilities planned to service the European based car makers and renewable energy sector.
The business plans to install a processing plant and equipment to produce battery anode material using existing graphite production to become a fully integrated supplier to LIB cell makers based in Europe.
The ZG Group, which owns the long life, multi-decade producing Zavalievsky mine, makes graphite products across the range and has existing customer base and graphite product supply chains which Volt expects to be able to leverage off in developing its existing Bunyu graphite project in Tanzania.
