Volt Resources Ltd (ASX:VRC) has lauded a strong first month of graphite production at the Zavalievsky mine and processing plant in Ukraine.
Zavalievsky recently resumed production after a lengthy period of disruption caused by Russia’s invasion of the country.
The company achieved an average daily production of 60.5 tonnes of graphite in 14 days of operation in August for a monthly total of 846 tonnes.
Despite disruptions, Volt expects production to meet its financial year 2023 forecast graphite production of 8,000-9,000 tonnes.
Volt and its partner Zavalievsky Graphite have been working together to resolve disruptions to operational matters and believe that achieving stable and consistent operations at the project would allow production to ‘significantly’ exceed its annual production target.
Confident of improved production
“We applaud the Zavalievsky management and staff who have successfully brought the mine and processing plant very quickly back into production in extremely challenging circumstances,” Volt Resources managing director Trevor Matthews said.
“To achieve the forecast level of production, and to have done so in less than half a month of processing, is highly encouraging.
“This also shows the opportunity to significantly exceed the full-year production target for the Zavalievsky business and to this end Volt and Zavalievsky management are working to overcome the various factors that disrupted production during August.
“We are confident of improving upon and achieving above-plan production performance in coming months and Volt looks forward to providing further updates from the Zavalievsky operations in due course.”