AVELLUM acted as the legal counsel to Volt Resources Limited (“Volt”) on the acquisition of 70% stake in the Zavallivskyi Graphite Group (“ZG Group”). Volt is a graphite and gold exploration and development company listed on the Australian Stock Exchange.

AVELLUM provided full legal support to Volt in negotiations and drafting of the transaction documents and coordinated completion of the entire transaction. We also performed legal due diligence of the ZG Group.

Trevor Matthews, managing director at Volt, commented: “Following this transaction, Volt has the potential to become a key market participant in the supply of graphite and battery anode materials into the growing European market with excellent access to other markets in the US and the Middle East”.

Mykola Stetsenko, the managing partner at AVELLUM commented: “This acquisition by Volt signifies an increasing interest of foreign investors in Ukraine. It also underscores the strategic importance of Ukraine in the battery production chain of the growing electric vehicle industry”.

Volt is focused on the exploration and development of its wholly owned graphite and gold projects in Tanzania and Guinea and now Zavallya (Ukraine), and the identification of further assets globally.

The ZG Group operates a long-life graphite mine and processing plant with a nameplate capacity of up to 30,000 tonnes per annum, producing graphite products across the range and has the potential to significantly increase its high-value large flake production.

AVELLUM team was led by managing partner Mykola Stetsenko with support from partner Maksym Maksymenko and associates Daryna Mykhailenko and Andriy Kornuta.