Latest news with #phosphate
Yahoo
a day ago
- Business
- Yahoo
First Phosphate Closes Private Placement to Strategic Investor
Saguenay, Quebec--(Newsfile Corp. - July 9, 2025) - First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it has closed its financing (the "Offering") to the strategic investor and other follow-on investors, on terms as described in the Company's news release dated June 30, 2025. The Company raised a total of $3,229,529 through the issuance of 9,127,085 Flow-Through Shares at a price of $0.35 for gross proceeds of $3,194,479.75, and 100,142 Hard Dollar Units at a price of $0.35, comprised of 100,142 Common Shares and 50,071 Warrants, for gross proceeds of $35,049.70. The Offering was completed on substantially the same terms as the Company's earlier $1.0 million non-brokered private placement announced on May 9, 2025 which was oversubscribed for proceeds of $3.5 million and which closed on May 27 and June 2, 2025. Together with this Offering, the Company has raised to date a total of approximately $27.0 million in 8 management-led non-brokered private-placement financings since June 2022. In total, in connection with the Offering, the Company paid $1,600 in cash finder's fees, issued 642,844 Compensation Shares and advisory shares at a price of $0.35 per common share, and issued 647,416 Compensation Warrants, exercisable at a price of $0.50 per common share of the Company, until December 31, 2025, subject to an Accelerated Expiry Date. All securities issued under the Offering are subject to a four-month and one day statutory hold period in accordance with applicable securities laws. The Company intends to use the proceeds from the Offering as disclosed in the Company's press release dated June 30, 2025. Capitalized terms used in this news release and not defined herein have the meanings given to them in the Company's news release dated June 30, 2025. The Company may close another tranche of the Offering at its discretion. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There can be no assurance that any further securities will be sold under Offering. About First Phosphate Corp. First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company dedicated to producing high-purity phosphate for the LFP battery industry. The Company is committed to sustainable extraction and purification with a low anticipated carbon footprint. Its vertically integrated model connects phosphate mining directly into the supply chains of North American battery producers. First Phosphate's flagship project, the Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, contains rare igneous anorthosite rock that yields high-purity phosphate with minimal impurities. For additional information, please contact: Bennett KurtzChief Financial Officerbennett@ +1 (416) 200-0657 Investor Relations: investor@ Relations: media@ Follow First Phosphate: X : -30- Forward-Looking Information and Cautionary Statements This news release contains certain statements and information that may be considered "forward-looking statements" and "forward looking information" within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things: the Company's planned exploration and production activities; the properties and composition of any extracted phosphate; the Company's plans for vertical integration into North American battery supply chains; and the receipt of all necessary approvals. These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company's public disclosure record including the short form base prospectus dated June 5, 2024, and the receipt of all necessary approvals. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company's other documents filed with the Canadian and United States securities authorities, including without limitation the "Risk Factors" section of the Company's Management Discussion and Analysis dated June 27, 2025 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR+ at Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. THIS NEWS RELEASE IS NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit Sign in to access your portfolio
Malay Mail
3 days ago
- Business
- Malay Mail
First Phosphate Produces LFP Battery Cells Using North American Critical Minerals
Using mainly Quebec critical minerals Phosphate: High-purity phosphoric acid produced from igneous phosphate concentrate extracted from the First Phosphate Bégin-Lamarche property in Quebec, Canada and processed in the pilot installations of Prayon Technologies of Belgium, Europe. High-purity phosphoric acid produced from igneous phosphate concentrate extracted from the First Phosphate Bégin-Lamarche property in Quebec, Canada and processed in the pilot installations of Prayon Technologies of Belgium, Europe. Iron: Iron powder produced using magnetite concentrate from the First Phosphate Bégin-Lamarche property in Quebec, Canada and processed by GKN Hoeganaes of Tennessee, USA. Iron powder produced using magnetite concentrate from the First Phosphate Bégin-Lamarche property in Quebec, Canada and processed by GKN Hoeganaes of Tennessee, USA. Lithium: Lithium carbonate produced by Century Lithium Corp. (TSXV: LCE) from its operations in Nevada, USA. Lithium carbonate produced by Century Lithium Corp. (TSXV: LCE) from its operations in Nevada, USA. Graphite: Natural graphite-based active anode material produced by Nouveau Monde Graphite (NYSE: NMG) from its operations in Quebec, Canada. [email protected] Saguenay, Quebec - Newsfile Corp. - July 7, 2025 - First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it has successfully produced commercial-grade lithium iron phosphate ("LFP") 18650 format battery cells using, advancing its mission to localize the LFP battery supply chain in North LFP cathode and anode materials for the First Phosphate 18650 LFP battery cells were produced using North American critical minerals from the following supply sources:"Today we demonstrate that North America, and Quebec in particular, possess the full spectrum of critical minerals and industrial capabilities to re-onshore LFP battery cell production," said John Passalacqua, CEO of First Phosphate. "It is important to remember that LFP battery technology originated in North America. Reclaiming this leadership is essential to securing North American energy storage, mobility, data center, robotics, and defense industry infrastructure."The production process for the First Phosphate LFP 18650 Battery cells from North American critical minerals is viewable at: LFP 18650 battery cells are versatile lithium-ion batteries that are widely used in industries such as robotics, automation, military and defense, data centers, telecommunications, medical devices, consumer electronics and electric 18650 battery cells can be found in autonomous electronic devices such as robots, drones and UAVs, power chargers, laptops, power tools, electric bicycles and scooters, solar storage devices, home energy and power backup units, flashlights, digital cameras, night vision goggles, medical diagnostic equipment, data centers, AI infrastructure and telecommunications LFP 18650 battery cells were assembled for First Phosphate by Ultion Technologies Inc (Las Vegas, Nevada), a private battery technology company specializing in LFP battery materials and cells with development and pack assembly operations for North American First Phosphate LFP 18650 battery cells are being unveiled today by First Phosphate CEO, John Passalacqua, at the Oreba3 International Conference on Olivines for Rechargeable Batteries in memory of John B. Goodenough, 2019 Nobel Laureate in Chemistry. For additional details, please see: First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company dedicated to producing high-purity phosphate for the LFP battery industry. The Company's vertically integrated approach connects sustainable phosphate mining in Quebec with North American battery supply chains, targeting the energy storage, data center, robotics, mobility, and defense sectors. First Phosphate's flagship Bégin-Lamarche property in Saguenay-Lac-Saint-Jean is a rare North American igneous phosphate resource, yielding high-purity phosphate with minimal KurtzChief Financial OfficerTel: +1 (416) 200-0657Investor Relations: [email protected] Media Relations: [email protected] Website: X: LinkedIn: The issuer is solely responsible for the content of this announcement.
Arab News
5 days ago
- Business
- Arab News
Saudi Arabia's $2.5tn mineral reserves fuel industrial push
JEDDAH: Saudi Arabia is accelerating the development of its mining sector as a central pillar of economic diversification, with the Kingdom's mineral wealth now estimated at SR9.4 trillion ($2.5 trillion). The surge in value is driven by discoveries of rare earth elements, base metals, gold, phosphate, and titanium — a strong, lightweight metal with high-value applications in aviation and turbine manufacturing. A major catalyst for this growth is the Northern Borders region, home to SR4.6 trillion in resources and a key hub for phosphate production. Developments in Waad Al-Shamal have helped position the Kingdom among the world's top phosphate exporters. In alignment with Vision 2030 and the National Industrial Development and Logistics Program, the mining sector is projected to boost its contribution to gross domestic product from $17 billion in 2024 to $75 billion by 2030. It generated $400 million in revenue in 2023 and is now backed by a $100 billion investment plan targeting critical minerals by 2035. Speaking to Arab News, Saurabh Priyadarshi, a geologist and adviser for mining and metals at Geoxplorers Consulting Services, highlighted that Saudi Arabia's substantial reserves of gold, copper, phosphate, rare earth elements, and lithium position it as a potential global leader in the industry. 'Saudi Arabia can foresee itself becoming a key player in the global minerals supply chain. Calling these minerals critical is a different matter altogether,' he said. Priyadarshi added that one of the strongest diversification drivers is rising global demand for battery metals and industrial minerals that power electric vehicles and renewable energy infrastructure. 'As global markets push toward decarbonization, Saudi Arabia, too, can and should leverage its $2.5 trillion mineral resource base to power the next phase of industrial growth,' Priyadarshi said. Saudi Arabia is also prioritizing domestic resources and talent, promoting public-private partnerships, and adopting Fourth Industrial Revolution technologies to drive sustainable, long-term growth. Minerals central to 2030 plan Mansour Ahmed, an independent economic adviser, described mineral development as a strategic cornerstone of Vision 2030. He said Saudi Arabia's untapped reserves are 'critical to the global energy transition.' Ahmed stressed that growing the sector would expand non-oil GDP, generate employment, and drive regional development. He highlighted the importance of mining cities and downstream hubs 'to maximize local value and build integrated, resilient supply chains.' Both Priyadarshi and Ahmed noted Saudi Arabia's alignment of mining with advanced manufacturing and innovation. Priyadarshi pointed to Ras Al-Khair's aluminum smelter and the planned battery chemicals complex in Yanbu, developed in partnership with EV Metals Group, as examples of the Kingdom's industrial leap forward. Investments in automated mining technologies, AI-driven exploration, and ESG-focused practices reflect Saudi Arabia's ambitions to become a global hub for sustainable resource extraction. Saurabh Priyadarshi, geologist and adviser for mining and metals at Geoxplorers Consulting Services Saudi Arabia has also secured lithium processing capabilities, becoming the first Middle Eastern country to establish a battery materials supply pipeline. 'The government is leveraging its Public Investment Fund to finance mining and battery production, ensuring long-term supply chain resilience,' Priyadarshi said. He also cited strategic global moves, such as acquiring stakes in Vale's base metals division and developing domestic copper smelting, as reinforcing the Kingdom's ambitions in critical minerals. According to the Vision 2030 Annual Report for 2024, mining has been prioritized as a key sector for economic diversification. The report highlights significant reforms introduced to support this strategic shift, including the Comprehensive Mining Strategy and the Mining Investment Law — both designed to create a more attractive and transparent regulatory environment. Institutional support was reinforced through the establishment of the Ministry of Industry and Mineral Resources. Furthermore, the Saudi Geological Survey and the National Geological Database were launched to strengthen geological mapping and resource assessment capabilities. New entities such as Manara Minerals, the Mining Fund, and the Nuthree Exploration Incubator were also created to stimulate investment, innovation, and entrepreneurship in the sector. ESG and AI integration Priyadarshi emphasized that sustainability is integral to this transformation, with AI-driven exploration minimizing environmental impact, automation improving productivity and energy efficiency, and blockchain tools ensuring compliance with ethical, environmental, social, and governance standards. Saudi Arabia is also investing heavily in renewables to power its industrial base. Priyadarshi pointed to the Kingdom's $235 billion commitment to solar, wind, and hydrogen, including NEOM's $5 billion green hydrogen facility and a $35 billion phosphate and bauxite processing expansion at Ras Al-Khair. Ras Al-Khair Industrial City is home to Ma'aden's phosphate and ammonia plants, aluminum smelters, and steel production facilities such as Hadeed — showcasing the Kingdom's ability not only to extract, but also to process and add value to its mineral resources. The city is rapidly emerging as a strategic node in global supply chains. Priyadarshi noted that the Kingdom's strategy extends beyond resource extraction. He underscored the importance of integrating mining with downstream industries such as aluminum smelting, phosphate processing, and electric vehicle battery production to reinforce supply chains and develop high-value sectors that move beyond the export of raw minerals. 'Investments in automated mining technologies, AI-driven exploration, and ESG-focused practices reflect Saudi Arabia's ambitions to become a global hub for sustainable resource extraction,' he said. When asked about the most strategically important minerals for the Kingdom, Ahmed identified phosphate, rare earth elements, and gold as critical. He explained that phosphate is essential for food security and serves as a key driver of industrial exports, while rare earth elements such as neodymium, praseodymium, and dysprosium are vital for manufacturing EVs, wind turbines, defense technologies, and high-tech electronics — making them central to future-proofing the clean energy economy. 'Gold continues to hold significant financial value and remains an important mineral for the Kingdom. Copper and bauxite closely follow, given their growing importance in global electrification,' Ahmed added. Global rankings According to the Vision 2030 report, Saudi Arabia has achieved top international rankings in the mining sector. The Kingdom secured first place for mining investment growth, as reported by MineHutte and the Mining Journal. It also ranks among the top 10 countries for mining financial policies and holds the second position globally for efficient license issuance — taking approximately 90 days to issue a mining license. The report adds that Saudi Arabia's advanced legislative framework has attracted significant interest, with 290 local and international companies operating in the sector as of 2024. The National Geological Database has dramatically expanded its coverage from just 1.7 percent in 2021 to 51 percent by last year, enabling better resource identification. Investor confidence remains high, with 30 proposals submitted for the Kingdom's largest-ever mining tender in 2024, covering valuable mineral sites containing gold, silver, copper, and zinc.
Zawya
02-07-2025
- Business
- Zawya
Egypt: Elsewedy, EMRA sign agreement to develop sebaia phosphate mines
Arab Finance: The Egyptian Mineral Resources Authority (EMRA) has signed a memorandum of understanding (MoU) with Elsewedy Capital to explore, extract, and process phosphate ore in the Sebaia mines in the Nile Valley region, as per a statement. The moU outlines cooperation in evaluating phosphate reserves in the Sebaia mines and allows Elsewedy Capital or its affiliates to enter negotiations on potential joint ventures for exploration and production. Minister of Petroleum and Mineral Resources Karim Badawi said the mining sector is one of the key components of the national economy, with government plans to raise its contribution to gross domestic product (GDP) from under 1% to 5–6% in the coming years. He noted that the agreement reflects cooperation between the state and the private sector to advance project execution and deliver economic benefits. Elsewedy Electric's CEO Ahmed Elsewedy said the partnership provides an opportunity for the group to expand into mineral resource activities. He added that the project is expected to support the development of industries that increase the economic value of phosphate. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
02-07-2025
- Business
- Zawya
Egypt: EMRA, Elsewedy sign partnership to explore, develop phosphate reserves in Sebaiya
Egypt - As part of Egypt's strategy to maximise the value of its mineral wealth, the Egyptian Mineral Resources Authority (EMRA) has signed a memorandum of understanding (MoU) with Elsewedy CAP Investments to explore, develop, and produce phosphate ore from the Sebaiya mines in the Nile Valley. The MoU was signed in the presence of Minister of Petroleum and Mineral Resources Karim Badawi and Ahmed El Sewedy, CEO and Managing Director of Elsewedy Electric. The agreement outlines a framework for collaboration to assess and confirm phosphate ore reserves in the Sebaiya area, upgrade ore concentration levels, and conduct a feasibility study for establishing a phosphate fertiliser production plant. This move represents a key step in Egypt's broader efforts to unlock greater economic returns from the mining sector. Under the MoU, Elsewedy Group—or one of its subsidiaries—may enter into negotiations to establish joint ventures with EMRA for the purpose of exploration and commercial production. Minister Badawi emphasised that the mining sector is one of the most promising pillars of Egypt's national economy, and noted that directives from the country's leadership call for increasing the sector's contribution to GDP from under 1% to between 5% and 6% in the coming years. He added that the partnership with El Sewedy Group reflects a successful model of public-private cooperation that accelerates project implementation and delivers measurable economic value. Ahmed El Sewedy welcomed the agreement, noting that it opens up new investment opportunities for the group in the mining industry. He stressed that the project would help develop downstream industries, adding real value to Egypt's phosphate resources and enhancing their contribution to national development.
