In this InvestorIntel interview, Tracy Weslosky talks with First Phosphate Corp.’s (CSE: PHOS | FSE: KD0) CEO and Director John Passalacqua about the significance of phosphate. As an essential mineral for humanity, with about 90% of its use dedicated to food production, John discusses the rapid growth in demand for phosphate in LFP (Lithium Iron Phosphate) batteries used in electric vehicles.
John also provides an update on First Phosphate’s deposit in the Saguenay-Lac-St-Jean Region of Quebec, Canada, and the tax benefits of being located in Quebec. The deposit hosts high-purity phosphate material, devoid of concentrations of deleterious elements.
He goes on to discuss the significant milestones achieved at its project in just one year of being in operation, including securing extensive claims, conducting advanced drilling, releasing a mineral resource, and progressing towards a PEA (Preliminary Economic Assessment) and phosphate concentration pilot plant.
With an MoU (memorandum of understanding) in place with Port of Saguenay in Quebec, Canada to secure deep-sea access to the global markets, John provides an update on First Phosphate’s partnership with Prayon SA, a global leader in purified phosphoric acid production and technology.
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About First Phosphate Corp.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at a high purity level, at full ESG standard, and with a low anticipated carbon footprint. First Phosphate plans to vertically integrate from the mine source directly into the supply chains of major North American LFP battery producers that require battery-grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high-purity phosphate material devoid of high concentrations of harmful elements.
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