July 14, 2022: Australia-based Volt Resources has received commitments to raise $2 million in a share placement to help restart graphite production in Ukraine — and to continue producing lithium ion battery anode, alkaline and lead battery product samples for customer testing, the company said on June 30.

The funds would go to Ukraine’s Zavalievsky graphite mine, about 280km south of Kyiv, a processing plant and boost the export of graphite products to customers in Europe, Volt said.

The placement will also support the preparation of feasibility studies for a small-scale battery anode material production facility in the US, and a larger such facility that can be used as a design template for facilities in the US and Europe.

Volt has a 70% stake in the ZG Group in Ukraine and is focused on the exploration and development of its wholly-owned graphite and gold projects in Tanzania and Guinea.

Performance

Operations at Zavalievsky were suspended after Russia’s invasion of Ukraine on February 24, Volt confirmed in a regulatory filing on March 1.

Managing director Trevor Matthews said on June 30 the decision on the graphite mine and processing operations was “a positive step forward for the Zavalievsky management and staff, local communities and businesses that depend on the graphite business for their livelihoods”.

Volt reported on February 3 that it was evaluating the electrochemical performance of its ultra-high purity non-spherical material for use as an expander in lead acid batteries. The company said work was being performed under the close oversight of a potential off-take partner — an unnamed lead battery company.

Volt says the development of non-spherical graphite products for the alkaline and lead battery markets will improve the economics of the firm’s planned battery anode material facilities in the US and Europe.