First Phosphate secures $16.7M in federal funding for Québec phosphate project

First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) announced that it has finalized an statement with the Government of Canada for a $16.7 cardinal non-repayable publication to enactment the improvement of its Bégin-Lamarche phosphate task successful the Saguenay–Lac-Saint-Jean portion of Québec.

The backing volition beryllium provided done the Natural Resources Canada Global Partnerships Initiative and volition assistance beforehand method and engineering enactment for the project.

The enactment volition absorption connected validating the company’s quality to nutrient phosphate ore that meets the prime requirements of the lithium robust phosphate (LFP) artillery market.

According to the company, the publication volition enactment the improvement of processing circuits and instrumentality needed to corroborate accumulation capabilities nether the parameters of an existing offtake agreement.

"We invited this concern from the Government of Canada which supports the continued advancement of our task and its strategical relation successful the LFP artillery proviso chain," First Phosphate CEO John Passalacqua said.

"Together, we are taking different measurement toward establishing an integrated phosphate-based LFP artillery proviso concatenation successful Canada."

Federal Energy and Natural Resources Minister Tim Hodgson said the concern is portion of Canada’s broader effort to fortify proviso chains for captious minerals.

"By supporting companies similar First Phosphate, we are helping present the minerals the satellite needs and the prosperity and information Canadians deserve,” Hodgson said.

The Bégin-Lamarche objection and feasibility task aims to assistance make home capableness to process apatite into high-purity phosphoric acerb for artillery applications. The institution said the inaugural could enactment the constitution of a Canadian phosphoric acerb installation supplied by locally produced phosphate concentrate.

First Phosphate estimates the task could make astir 277 skilled jobs and lend to reducing reliance connected overseas proviso chains for battery-grade phosphate materials.

The national publication volition money eligible activities related to a feasibility survey for the integrated Bégin-Lamarche phosphate excavation and processing project, with enactment planned done 2028.