By: Energy capital & power

Australian mining firm Volt Resources has drawn $500,000 from its $1 million funding package arranged with RiverFort Global Opportunities to develop graphite projects in Tanzania and the U.S.

The funds will accelerate development at the Alabama Graphite Refinery in the U.S. and the Bunyu Graphite Project in Tanzania. Volt Resources seeks to finalize strategic partner negotiations and transition the Bunyu project into its development phase. Phase 1 of the Bunyu project includes constructing a processing plant capable of handling 400,000 tons of ore annually to produce approximately 24,780 tons of graphite.

Asimwe Kabunga, Executive Chairman of Volt Resources, said the dual focus – upstream in Tanzania and downstream in the U.S. – enhances the company’s graphite business strategy and market foothold.

“As the U.S., 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,” stated Kabunga.