Australian critical minerals producer Volt Resources is set to supply 20,000 tonnes of graphite per year to the US Government.
The company signed a letter of intent with global critical minerals supply chain company M2i Global, striking a deal to supply the graphite from its subsidiary Zavalievsky Graphite (ZG).
“We are delighted to be working with M2i and look forward to strong collaboration,” Volt managing director and chief executive officer Prashant Chintawar said.
“Onshoring of an energy storage battery supply chain is a priority for US national security. This is especially true for graphite as a foreign entity of concern has over 75 per cent market share.
“This agreement is consistent with our plan to expand ZG customer base and grow ZG business.”
The contract is expected to extend across three years, supplying high-purity graphite to the US Department of Defence (DoD).
Volt said the DoD wants to build a resilient industrial base to meet current and future national defence requirements.
The DoD, through its manufacturing capability expansion and investment prioritisation office, aims to secure a reliable, sustainable supply of graphite materials within the US to be used in the production of batteries.
“Our core mission is fortifying our nation’s precious material supply by providing secure and reliable access to key resources for the United States,” M2i executive chairman Doug Cole said.
“We are excited to work closely with Volt to advance their vision of setting the benchmark for the integrated supply of superior quality, natural graphite anode material to the growing battery industry.”