Volt Resources has drawn A$0.5-million from its funding facility with RiverFort Global Opportunities as the graphite developer ramps up progress on projects in the US and Tanzania.
The funding, which is the first tranche of a A$1-million facility arranged with RiverFort, will be deployed for pilot plant trials and development of the Alabama graphite refinery, in the US, advancement of its flagship Bunyu project in Tanzania, and for general corporate and operational expenses.
A further A$0.5-million remains available under the agreement, originally announced in April last year.
Volt reported on Tuesday that the the Alabama refinery had entered a pilot testing phase following a favourable scoping study, which confirmed strong project economics. The plant will produce high-purity graphite, a critical component in anodes used in lithium-ion batteries. The company is engaging with potential offtake partners, exploring funding options, and consulting with US government bodies as it seeks to capitalise on strategic interest in domestic processing capabilities.
“The company continues to make progress with its graphite business strategies based on the development of the upstream Bunyu graphite project asset and the downstream graphite purification business at the planned Alabama graphite refinery,” said executive chairperson Asimwe Kabunga.
“With the US government’s increasing support for in-country downstream processing and non-Chinese sources of critical minerals supply, the current geopolitical environment is favouring Volt’s development businesses.”
The company’s other major focus is Bunyu, one of the largest graphite deposits in Tanzania. Strategic partner negotiations are ongoing to progress Stage 1 of the project into development. The talks centre on reducing both capital and operating costs to ensure the project can proceed economically in a subdued pricing environment for natural graphite.
Volt’s strategic positioning is further strengthened by recent US policy moves. The US government has imposed a 93.5% anti-dumping duty on Chinese active anode materials (AAM), lifting the total effective tariff on these imports to 160%.
“The recent introduction of an unprecedented 93.5% duty on AMM imported from China marks a watershed moment for the battery materials sector,” Kabunga said.
“This shift underscores the urgent need for resilient, non-Chinese supply chains to support North American and European battery manufacturing.”
“For Volt, this development further strengthens the strategic rationale behind our US and Tanzanian production initiatives, as automakers and battery manufacturers now urgently seek secure, compliant alternatives to China-based supply.”
Kabunga added that Volt’s projects in the US, Tanzania, and Ukraine were well positioned to meet that demand.
“As the US, Europe, and key industry partners respond to evolving geopolitics with incentives, tariffs, and critical minerals policy, Volt is uniquely positioned. Our projects provide a reliable feedstock and advanced products outside China’s sphere, and our progress aligns with these rapid policy developments.”