NGI has made an off-take agreement deal with Volt Resources Ltd. for a minimum of 5,000 tones of flake graphite concentrate over a period of 5 years, commencing 2018
April 6, 2017— The US based graphene producer, NanoGraphene Inc, is all set to grow its global footprint. The company will be leveraging on its patent pending graphene production technology by partnering with Volt Resources Ltd. It is now all set to produce and supply premium and commercial grade graphene to its US and European clients at a low cost and in industrial quantities. And this is evident from the deal that was recently made between NGI and Volt Resources Ltd.
NanoGraphene Inc has signed a binding off-take agreement with the Australian graphite exploration and development company, Volt Resources Ltd. for 5000 tons of flake graphite concentrate over a period of five years.
Confirming the news of this deal with sheer excitement and enthusiasm, Dr Boris Goldstein, NanoGraphene Principal, commented by saying, “NGI is delighted to enter into this binding off-take agreement with Volt Resources that will commence in 2018. We selected Volt to be our partner, as the Namangale graphite concentrate passed our stringent testing program, notably returning excellent quality in terms of TGC grade, the highest conductivity and demonstrably low levels of impurities.”
Volt Resources Ltd. wholly owns the Namangale graphite project which is located in Tanzania, and is possibly JORC’s largest resource deposit with 461 Mt@ 4.9 percent TGC and 22.6 Mt of contained graphite.
He further added and said, “More importantly, we believe Volt has an excellent management team that understands our specific requirements, and are prepared to be flexible in meeting these as we grow our global footprint in this high growth market.”
Other reasons that have been cited by NGI for selecting Volt Resources Ltd for supplying graphite concentrate are that the company has the capacity to scale up the supply as per the needs of NGI and that graphite that is offered by them exfoliates easily which will allow NGI to lower the cost of graphene production and pass down the saving to its clients.
In addition to the basic terms of any off-take agreement, the highlights of this agreement made between the two companies are that:
The volume can be increased as required by NGI
The contract is open to renewal for 5 more years
The price is fixed for the first 5 years of the off-take agreement—the premium to Volte Resources Ltd basket place of 1,684 US dollars in the PFS
Flake size is not specific however, the concentrate grade would be of 98 percent TGC and the delivery will commence in Q1, next year
About NanoGraphene Inc
NanoGraphene Inc is a privately owned producer of graphene. The company is based in the US and headquartered in New York. NGI has made a breakthrough in the industry by introducing its patent pending production method that is eco-friendly and addresses the 3 major industry challenges associated with producing graphene commercially—ecology, scalability and cost.