First Phosphate Corp (CSE: PHOS) Signs Land Agreement with Port Saguenay for Planned Phosphoric Acid Plant

Mon 21 Jul 25, 06:29 AM |

Highlights

First Phosphate has secured exclusive land lease rights at Port Saguenay until December 31, 2027.
The facility will use clean phosphoric acid processing technology supplied by Prayon SA of Belgium.
The planned plant will support vertical integration with future LFP battery material production.

First Phosphate Corp (CSE: PHOS) has finalized an industrial land option agreement with the Port of Saguenay in Quebec, Canada, allowing for the potential development of a phosphoric acid facility. The agreement follows an earlier memorandum of understanding signed in October 2022 and grants the company exclusive rights to secure a definitive land lease by December 31, 2027, subject to meeting specific financial and development milestones. Construction of the proposed plant is expected to begin in 2028.

The planned facility will implement clean processing technology from Belgium-based Prayon SA and will be engineered by Ballestra S.p.A. of Italy. The selected industrial site provides direct access to rail and maritime shipping routes, offering logistical advantages for North American and international markets, especially European offtakers.

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