John Passalacqua on First Phosphate Meeting the Demand for Battery-Grade LFP Cathode Active Material
April 25, 2024 — In a recent InvestorNews interview, host Peter Clausi spoke with John Passalacqua, CEO and Director of First Phosphate Corp. (CSE: PHOS), a mineral development company dedicated to the extraction and purification of phosphate for the LFP battery industry. The discussion highlighted significant advancements at their Bean L Marsh property, where a comprehensive 25,000-meter drill program is almost complete. The company has started receiving promising drill results, with phosphate grades on par with the top-producing mines globally. “We’re seeing phosphate grades over 10-12%, which positions us well for developing an effective open pit operation,” Passalacqua remarked.
The interview also covered the company’s strategic partnership with a local indigenous group, a collaboration that aligns with First Phosphate’s commitment to responsible and sustainable mining practices. This partnership is crucial, not only for community integration but also for supporting the project’s role in global decarbonization efforts. First Phosphate is actively developing over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada. These properties consist of rare anorthosite igneous phosphate rock, typically yielding high-purity phosphate material.
Passalacqua also discussed the competitive edge of lithium iron phosphate (LFP) batteries in the market, particularly their role in reducing costs for electric vehicles and stationary energy storage, aligning with the Inflation Reduction Act in the United States. He highlighted the strategic importance of this for First Phosphate, stating, “We are rapidly positioning to meet North American LFP battery producers’ needs for battery-grade LFP cathode active material from a consistent and secure supply source.”
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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 high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from 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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