Volt Resources Ltd (ASX:VRC) has assured the market that geopolitical tensions between Ukraine and Russia have so far not impacted production at the Zavalievsky Graphite (ZG) business or its operations in Western Ukraine.
The business continues to produce and sell products to customers in central and eastern Europe, having recently recorded a 44% increase in monthly graphite production.
Executives visit Ukraine operations
Volt Resources chair Asimwe Kabunga and managing director Trevor Matthews visited Ukraine between January 11 and January 22, 2022.
They met with minority shareholders, senior management and consultants to discuss business strategy, operating and sales performance and improvement projects. They also visited the Zavallya township, where the mine and processing facilities are located.
Volt says management and staff continue to work as usual at both the Kyiv corporate office and the Zavallya graphite mine and processing facility with no disruptions to scheduled activities or sales and marketing efforts.
“Volt continues to monitor the geopolitical situation in Ukraine closely and assess and discuss the situation with our local management team and our advisors,” Volt Resources shared in its announcement.
“So far, no developments have occurred to change or alter the current operations or plans for the graphite business.
“If events occur which are likely to materially impact or alter the company's Ukraine business and/or its people, the market will be informed as soon as possible.”
About Volt Resources
Volt Resources is a graphite producer/developer and gold exploration company. Volt has a 70% controlling interest in the Zavalievsky Graphite business in Ukraine.
ZG has current plans to install a processing plant and equipment in order to begin production of spheroinised purified graphite (SPG) for the European lithium-ion battery (LIB) market.
Volt has acquired three licence applications prospective for lithium-borate mineralisation. The licence applications cover a total area of 291 square kilometres, located in Serbia to the west and southwest of the capital, Belgrade.
Volt is also progressing the development of its large wholly-owned Bunyu Graphite Project in Tanzania, as well as gold exploration in Guinea leveraging the company’s extensive networks in Africa.