First Phosphate Corp. (CSE:PHOS, OTCQX:FRSPF, FRA:KD0, OTC:FPHOY) CEO John Passalacqua talked with Proactive about the company's latest funding success after receiving a C$4.84 million contribution from the Government of Canada's First and Last Mile Fund to advance infrastructure planning for its Bégin-Lamarche phosphate project in Quebec.
Proactive: Welcome back inside our Proactive newsroom. Joining me now is John Passalacqua, CEO of First Phosphate. John, great to see you again.
John Passalacqua: Great. Thank you.
Big news today with another investment from the Government of Canada through the First and Last Mile Fund. Tell us about the C$4.84 million contribution.
These funds help critical minerals projects connect to essential infrastructure such as electricity and roads. They support advanced projects that the Government of Canada wants to see enter production as quickly as possible by funding research into the best solutions for connecting hydro and road infrastructure to the site.
The Bégin-Lamarche project is only one to two kilometres from a major highway and existing electrical infrastructure. The funding isn't about determining whether access is possible—it's about determining the best way to build those connections in an environmentally responsible manner, with local community support, while ensuring efficient transportation to market.
Much of the funding goes towards technical work and planning rather than construction itself.
Exactly. We want to identify the quickest and most efficient routes for transportation while minimising impacts on local communities. The same applies to hydro infrastructure—we're looking for the most efficient solution.
Consultation is also an important part of this process, something you've always emphasised.
Yes. We'll undertake both public and technical consultations to determine the path of least resistance for hydro lines and roads that connect the project to markets.
This is another investment from the Government of Canada that builds on previous government support, highlighting the importance of the project.
It's very encouraging. The Quebec government recently granted the project fast-track permitting status, making it one of only three projects to receive that designation. Earlier this year, the Government of Canada contributed C$16.7 million towards development of the mine concentrator.
Now it's adding another C$4.8 million for road and electrical infrastructure. We were also highlighted by the G7 Critical Minerals Alliance at the G7 meeting in France as a project that G7 members—including Italy, Denmark, Belgium and the European Union—want to help bring to market.
We're seeing support across Canada, the United States and the European Union because they recognise that the Bégin-Lamarche project can help secure supply for lithium iron phosphate (LFP) batteries, which now account for almost 80% of battery production globally.
Congratulations on the latest funding. We look forward to following the project's progress.
Thank you very much.
Quotes have been lightly edited for style and clarity