- Access to the world's purest form of igneous phosphate rock
- Rare opportunity to go from mine to LFP cathode active material
- Major North American and European partners and proven providers
- Assembled world class board, management, advisory team
- Manageable mine size near infrastructure. CapEx aimed at value-add
- Important secondary recoveries (titanium and iron)
- ESG compliant with full circular economy in mind
- Electric car companies in North America plan to cut costs by adopting batteries made with the raw material lithium iron phosphate (LFP) [1]
- Ford Motors announced that it will be introducing a lithium iron phosphate (LFP) battery in the Mustang Mach-E models later [2]
- Volkswagen (VW) plans to build its first North American battery plant for electric vehicles in Canada.[3]
- GM has opened Canada's first full-scale electric vehicle manufacturing plant in Ingersoll, Ontario [4]
- Tesla has been focusing on LFP (lithium iron phosphate) batteries in its electric vehicles to cut EV costs [4a]
- Canada-based lithium-ion battery technology company Nano One has acquired a former Johnson Matthey LFP production facility in Quebec which it plans to scale up [5]
According to market research, the global LFP (lithium-iron-phosphate) battery market is projected to grow from USD $10 billion in 2021 to USD $50 billion by 2028[6].
Analysts expect LFP batteries to represent 40% of the global battery market by 2030[7].
The global lithium-ion battery market size was valued at USD 48.19 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 18.9% from 2023 onwards[8].
The North American LFP battery industry requires production of the highest purity, ESG-compliant, ethically sourced phosphate material from a clean phosphate source
First Phosphate Corp (CSE: PHOS) (FSE: KD0) intends to be a key suppler of high quality phosphate for the LFP battery industry
First Phosphate (CSE: PHOS) (FSE: KD0) is the only publicly listed mineral development company that is fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry.
First Phosphate (CSE: PHOS) (FSE: KD0) holds its flagship properties and a total of 1,500+ sq. km of land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada consisting of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid high concentrations of harmful elements.
Only 1% of the World’s Cleaner Igneous Anorthosite Phosphate is mostly found in Quebec, Canada.
Source: Food and Agriculture Organization of the The United Nations
1) https://cen.acs.org/energy/energy-storage-/Lithium-iron-phosphate-comes-to-America/101/i4
2) https://newsdirect.com/news/carmakers-like-ford-are-betting-on-lithium-iron-phosphate-battery-chemistries-as-electric-vehicles-continue-to-increase-in-demand-969685648
3) https://apnews.com/article/volkswagen-canada-ev-battery-plant-ontario-8cd2326504bee485800e79f962dd33504)
4) https://financialpost.com/commodities/energy/electric-vehicles/gm-converts-ontario-plant-to-ev-brightdrop
4a)https://www.autoweek.com/news/green-cars/a43575981/tesla-lfp-batteries-compact-model/
5) https://www.fastmarkets.com/insights/dont-forget-phosphate-for-electrification-andrea-hotter
6) https://www.fortunebusinessinsights.com/lithium-ion-li-ion-phosphate-batteries-market-102152
7) https://www.wsj.com/articles/auto-makers-shift-to-lower-cost-batteries-for-electric-vehicles-11668458953
8) https://www.grandviewresearch.com/industry-analysis/lithium-ion-battery-market
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