First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) announced that it has formalized a series of international investment and offtake agreements under the Critical Minerals Resilience and Production Alliance during the 52nd G7 Summit in Évian, France.
The company said the framework includes multiple letters of interest (LOIs) from export credit agencies, financial institutions, and industrial partners supporting the development of its Quebec-based phosphate projects and downstream processing infrastructure.
Among the commitments, First Phosphate received an LOI for up to C$275 million in guarantees from Denmark’s Export and Investment Fund (EIFO) to support development of the Bégin-Lamarche mine.
The company also secured LOIs from Italy’s export credit agency SACE, Cassa Depositi e Prestiti (CDP), and SIMEST, alongside support from engineering group MAIRE, relating to its planned phosphoric acid plant at Port Saguenay using Ballestra S.p.A. technology.
In addition, First Phosphate has signed definitive offtake agreements covering key portions of future production. These include a minimum of 200,000 tonnes per year of phosphate concentrate from the Bégin-Lamarche mine under an agreement signed in January 2026, and at least 60,000 tonnes per year of phosphoric acid from its Port Saguenay facility under an agreement signed in December 2024.
Canadian officials highlighted the strategic importance of the initiative. “Canada has what the world wants, and we are delivering,” said the Honourable Tim Hodgson, Canada’s Minister of Energy and Natural Resources.
"By advancing projects like the Bégin-Lamarche mine, we're securing the materials essential to the clean energy transition, creating good Canadian Jobs, and positioning Canada as a leader in an increasingly competitive global economy,” Hodgson said.
First Phosphate CEO John Passalacqua said the agreements reflect growing recognition of the importance of secure supply chains for battery-grade phosphate materials.
"We are proud to lead the G7 in the development of this clean, rare igneous phosphate material from Saguenay-Lac-St-Jean, Quebec into a downstream lithium iron phosphate battery supply chain for the G7 Alliance,” Passalacqua said.
