en.Wedoany.com Reported - Canada's First Phosphate Corp. formally signed a series of international investment and offtake agreements at the 52nd Group of Seven (G7) Summit in Évian, France, under the framework of the "Critical Minerals Resilience and Production Alliance."
Under this alliance framework, First Phosphate Corp. has received letters of intent from multiple international institutions. Among them, the Danish Export and Investment Fund (EIFO) signed a letter of intent on March 30, 2026, providing up to CAD 275 million in guarantees for the development of the company's Bégin-Lamarche mine. Additionally, the Italian Export Credit Agency (SACE), the Italian national promotional institution Cassa Depositi e Prestiti (CDP), the Italian enterprise internationalization and growth partner SIMEST, and the Italian engineering group MAIRE signed letters of intent between May 26 and June 4, 2026, concerning First Phosphate Corp.'s phosphoric acid plant at the Port of Saguenay, which will deploy technology from Italy's Ballestra S.p.A.
Regarding offtake agreements, First Phosphate Corp. signed a definitive agreement with an international partner on January 5, 2026, to procure at least 200,000 tonnes of phosphate concentrate annually from the Bégin-Lamarche mine. Another definitive offtake agreement, signed on December 16, 2024, stipulates the annual procurement of at least 60,000 tonnes of phosphoric acid from the phosphoric acid plant at the Port of Saguenay.
Canada's Minister of Energy and Natural Resources, Tim Hodgson, stated that by collaborating with allies through the Critical Minerals Resilience and Production Alliance, investments are advancing and project timelines are accelerating, helping to strengthen supply chains in Canada and beyond. He noted that advancing projects like the Bégin-Lamarche mine will secure critical materials for the clean energy transition and create jobs for Canadians.
John Passalacqua, CEO of First Phosphate Corp., stated that the agreements announced at the G7 Summit underscore the strategic importance of establishing a secure, traceable, and robust international supply chain for critical battery-grade phosphate materials. The company is leading the G7 in developing igneous phosphate materials from the Saguenay–Lac-Saint-Jean region of Quebec into a downstream lithium iron phosphate (LFP) battery supply chain for the alliance.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
