First Phosphate Endorsed by G7 Summit & Prime Minister Carney: New Partners & Definitive Offtake
First Phosphate Corp. (CSE: PHOS | OTCQX: FRSPF) just landed a wave of international backing at the 52nd G7 Summit in Évian, France — and CEO John Passalacqua joins MSE to break down what it means for the company’s mine-to-market LFP battery supply chain build-out in Quebec.
This episode digs into the details of the agreements signed under the Critical Minerals Resilience and Production Alliance, including:
- A letter of interest for up to CDN $275 million in guarantees from Denmark’s export credit agency (EIFO) to help finance the Bégin-Lamarche mine
- LOIs from Italy’s SACE, CDP, and SIMEST, alongside engineering group MAIRE, to support First Phosphate’s phosphoric acid plant at Port Saguenay using Ballestra technology
- A definitive offtake agreement for a minimum of 200,000 tonnes per annum of phosphate concentrate from Bégin-Lamarche
- A definitive offtake agreement for a minimum of 60,000 tonnes per annum of phosphoric acid from the Port Saguenay plant
John explains how these deals fit into the broader G7 alliance launched by PM Carney in 2025, what each piece of financing and offtake actually de-risks for the project, where things stand on permitting and construction timelines, and why he believes First Phosphate is positioned to lead North America’s push for a secure, traceable battery-grade phosphate supply chain.
If you’re tracking the critical minerals buildout, North American LFP battery supply chains, or First Phosphate specifically, this is a must-watch update straight from the source.
00:00 Intro
00:57 What the G7 Backing Means
02:33 Offtakes and Italy Partnership
04:19 Deal Terms Revenue and Pricing
05:27 Valuation and LFP Market Upside
08:31 Financing and Shareholder Demand
09:57 Timeline Catalysts and Execution
11:56 How the Alliance Came Together
14:07 Treasury and Capital Stack
Press releases discussed:
https://firstphosphate.com/first-phosphate-g7-investment-offtake-deals/
