FULL DISCLOSURE: First Phosphate is a sponsor of theDeepDive.ca.
First Phosphate (CSE: PHOS) has used the G7 stage to formalize a cluster of investment, financing and offtake commitments that move its battery-grade phosphate ambitions closer to construction.
The company said it has signed agreements under the Critical Minerals Resilience and Production Alliance, the multilateral framework launched by Canada at the 2025 G7 Leaders’ Summit and intended to fast-track critical minerals projects by linking governments, financiers and long-term buyers.
“By working with trusted allies through the Critical Minerals Resilience and Production Alliance, investments are being made, projects are coming online faster, and we are strengthening supply chains in Canada and beyond,” commented Tim Hodgson, Minister of Energy and Natural Resources for Canada.
“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,” added Hodgson.
Two definitive offtake agreements anchor the announcement. The first commits an unnamed international partner to take a minimum of 200,000 tonnes a year of phosphate concentrate from the Bégin-Lamarche mine, and was signed in early January. The second covers at least 60,000 tonnes a year of phosphoric acid from a planned plant at Port Saguenay, a deal that dates back to December 2024.
RELATED: First Phosphate Lifts Bégin-Lamarche Indicated Tonnage by 378% In Latest Resource Update
Alongside the offtake commitments, First Phosphate disclosed a set of letters of interest from export credit agencies and industrial partners that point toward how the projects might be funded.
The largest is a letter of interest from Denmark’s Export and Investment Fund for a guarantee of up to C$275 million tied to the development of the Bégin-Lamarche mine, signed in late March. Because the fund is backed by the Danish state, its guarantee carries a top-tier credit standing, a useful lever when arranging senior debt.
A second group of letters relates to the phosphoric acid plant. Italy’s export credit agency SACE, the state lender Cassa Depositi e Prestiti, and internationalisation arm SIMEST all signaled interest, with engineering group MAIRE backing the deployment of Ballestra technology at the facility. Those letters were signed across late May and early June.
“These offtake and investment agreements announced under the Critical Minerals Resilience and Production Alliance at the 2026 G7 Summit demonstrate the strategic importance being assigned to establishing a secure, traceable and robust international supply chain for critical battery-grade phosphate material,” said Chief Executive Officer John Passalacqua.
First Phosphate last traded at $1.65 on the CSE.
FULL DISCLOSURE: First Phosphate is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of First Phosphate. The author has been compensated to cover First Phosphate on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
