Volt Resources (ASX:VRC) has produced 830 tonnes of graphite concentrate from the group’s Zavalievsky Graphite Mine in Ukraine, grading between 78-97% of total graphitic content (TGC) in small, medium, and large flakes.
The company intends to further refine a portion of the concentrate to 99.5% purity, aligning with customer demands.
Volt has sourced customers across Europe and Japan, as well as a recent North American customer, which collectively cover around 70% of the campaign output by purchasing roughly 580 tonnes.
The campaign reported a unit production free on board cost of around US$540 per tonne, during the height of Ukrainian electricity.
An April study of average European electricity prices saw Ukraine leading the charge at €101.2 per megawatt hour as a result of the ongoing Ukraine-Russian warfare that has caused damage to energy infrastructure, according to GMK Centre.
CEO Prashant Chinta says the completion of its Zavalievsky campaign marks the team’s capability to operate in a “challenging” environment.
“We are encouraged by sustained customer demand and will continue to manage costs prudently while maintaining operational discipline,” Chinta says.
“Our strategic focus remains on advancing the broader Volt portfolio to support energy transition and critical mineral supply chains.”
Volt’s subsidiary Zavalievsky Graphite retained the proceeds from sales, which the company bought into in 2021 for a 70% stake.
During this campaign, Volt engaged with the local community for crew and staffing opportunities and to provide economic stability to the region.
The company also focused on the operational efficiency and maximising uptime with equipment upgrades and a preventative maintenance system.
Volt Resources is a critical minerals explorer focused on producing graphite and developing advanced materials.
Graphite is expected to see a compound annual growth rate of 6.9% as the globe shifts towards clean energy to meet net zero emission demands.
Currently marked at US$8.32 billion this year, graphite is expected to grow to US$13.35 billion ($20.77 billion) by 2032, as reported by Mining.com.au.
Write to Maddison Elliott at Mining.com.au
Images: Volt Resources
