First Phosphate secures major G7-backed support for mine and processing projects

First Phosphate Corp. CEO John Passalacqua joined Steve Darling from Proactive to discuss a major milestone for the company as it formalized international investment and offtake agreements under the Critical Minerals Resilience and Production Alliance at the 52nd G7 Summit in Évian, France. Passalacqua said the company has received multiple letters of interest (LOIs) from export credit agencies, financial institutions, and industrial partners aimed at supporting the development of its integrated phosphate and lithium iron phosphate (LFP) battery materials strategy in North America. Among the highlights is an LOI for up to C$275 million in guarantees from the Export and Investment Fund of Denmark to support development of the company's flagship Bégin-Lamarche phosphate mine in Quebec. In addition, First Phosphate received support from key Italian institutions, including SACE, Cassa Depositi e Prestiti (CDP), and SIMEST, along with engineering group MAIRE, for the planned phosphori...