Volt Resources (ASX:VRC) has drawn AU$500,000 from its AU$1 million RiverFort funding agreement to advance graphite refinement in the US and fast-track development of its Tanzanian project, according to a Tuesday filing with the Australian bourse.
The funding will be used to accelerate pilot plant trials and product development for the Alabama graphite refinery, support strategic partner negotiations to advance the Stage 1 Bunyu graphite project in Tanzania, and cover general working capital needs, the filing said.
The remaining AU$500,000 is still available under the agreement.
The company is advancing its global graphite projects to strengthen non-Chinese supply chains, capitalizing on new US tariffs and rising demand from Western battery makers, the filing added.
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