John Passalacqua on First Phosphate's Strategic Collaboration with Sun Chemical
Channel: InvestorCoffee
Date: 2023-12-06

In an Investor.Coffee interview series hosted by Jack Lifton, Co-Chairman of the Critical Minerals Institute (CMI), and guest John Passalacqua, CEO and Director of First Phosphate Corp.‘s (CSE: PHOS | FSE: KD0), Jack commends John for First Phosphate's exceptional operation and strategic alliance recently announced with Sun Chemical Corporation.

The discussion includes details surrounding First Phosphates’ innovative approach to the mining and production of lithium iron phosphate (LFP) batteries.

John emphasized the importance of integrating the mining process within the supply chain for effective production. First Phosphate's business model rests on three pillars: mining and producing phosphate concentrate, transforming this concentrate into purified phosphoric acid—a precursor to LFP batteries, and finally producing LFP cathode active material. The partnership with Sun Chemical is pivotal in this third stage. Sun Chemical, backed by the DIC Group with a substantial market cap, brings invaluable expertise in industrial production, similar to the requirements of the LFP industry.

Sun Chemical's existing facilities in Michigan and globally offer significant advantages, such as saving time and capital expenditure, given the pre-existing infrastructure and logistics. This partnership allows First Phosphate to focus on technology selection, client engagement, and research and development. The collaboration addresses the unique challenges of producing LFP batteries in North America, including differing environmental standards and the need for localization.

Jack highlighted the growing market preference for LFP batteries, noting their ease of production compared to other types due to the lack of need for cobalt and nickel. He praised First Phosphate's role in establishing a domestic supply chain for LFP cathode materials in the United States, potentially making them a key supplier for North American OEM automotive businesses. Jack remarked on the synergy between First Phosphate and Sun Chemical, where both parties contribute essential skills and resources.

John concluded by acknowledging his team's hard work and the strong partnership with Sun Chemical, underscoring the mutual respect and collaboration driving the venture's success.

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 LFP battery industry. First Phosphate is committed to producing at high purity level, in responsible manner 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.

To learn more about First Phosphate Corp., click here

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