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G7 Alliance Backs First Phosphate Project As Tesla, Ford, and Samsung Scramble For Local LFP Battery Chain

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Diem ‘Richard’ Nguyen

From: Zerohedge <newsletter>
Date: Wed, Jul 8, 2026 at 08:02
Subject: G7 Alliance Backs First Phosphate Project As Tesla, Ford, and Samsung Scramble For Local LFP Battery Chain

Denmark, Italy, the EU and Canada have expressed commitment to fund this high-purity igneous phosphate project. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Sponsored by First Phosphate Corp

At the 52nd G7 Summit in Evian, France, Prime Minister Carney presented to world leaders 13 critical minerals initiatives to address supply chain vulnerabilities in the West. First Phosphate (CSE:PHOS | OTC:FRSPF) accounted for two of them involving the development of a mine-to-market LFP battery supply chain for the western world, placing First Phosphate alongside national supply chain priorities backed by the worlds’ leading economies.

Denmark’s Export and Investment Fund offered up to C$275 million in guarantees to develop First Phosphate’s flagship mine while italian state institutions showed commitment to fund the phosphoric acid plant. Canada signed a C$16.7 million non-repayable contribution for the company. Allied nations are writing checks for this project and definitive offtake agreements were concluded by this company.

Read the full G7 announcement on Yahoo Finance

Tesla just signed a $4.3 billion local LFP battery deal.

CATL signed for $17 billion.

Ford is building a $3.5 billion LFP plant in Kentucky.

Samsung committed $1 billion to LFP in America.

LFP batteries overtook every other chemistry in 2025 and now power nearly three-quarters of all batteries produced worldwide in many different sectors. Every one of the newly announced LFP battery factories needs the same critical feedstock: battery-grade phosphoric acid. China controls over 90% of the supply, and recently restricted exports.

North America has a large projected shortage of LFP cathode active material and near zero domestic production. Most investors are focused on lithium, but lithium is only 4% of the cathode of an LFP battery. Phosphate is 61%. First Phosphate Corp. (OTCQX: FRSPF) is positioned directly at the center of this supply chain crisis.

The LFP battery sector is already attracting major capital. On May 4, a subsidiary of Agnico Eagle (NYSE: AEM), the world’s second-largest gold producer, paid C$94.3 million cash to acquire a project in the same igneous phosphate space. It was Agnico’s first-ever outright takeover.

FRSPF shares jumped 18% in a single session on this news. With that other igneous phosphate project now off the board, First Phosphate is one of the last pure play igneous phosphate projects standing in North America.

Source: https://www.tradingview.com/chart/?symbol=OTC%3AFRSPF – Screenshot taken on July 4th, 2026

FRSPF owns one of the highest-purity igneous phosphate deposits in the world, located in Saguenay-Lac-st-Jean, Quebec with direct highway access to the deep-sea port of Saguenay at 70 km driving distance. Updated economics show a CAD $2.1 billion NPV, 37.1% IRR, and 2.9-year payback over a 23-year mine life. The company trades at an increment of that NPV value.

View the FRSPF investor presentation

The CEO has personally invested $1.8 million of his own money into FRSPF at market prices, the same prices available to other investors in the open market. Management takes 50% of compensation in stock. The Board and CEO take 100% of compensation in stock. The company is debt-free. Offtake agreements are signed, pre-payments have already been received, and First Phosphate has already produced commercial-grade LFP battery cells using 100% North American critical minerals, believed to be the first time this has ever been accomplished in at least 25 years.

First Phosphate Corp. (OTCQX: FRSPF) is trading at an increment of its project value while billions flow into LFP battery capacity, China restricts the supply chain, and allied governments fund the alternative. The governments are now aligned under the G7 Resilience and Production Alliance to assist First Phosphate to bring about a Western LFP battery supply chain. The window to pay attention is now.

Learn more about FRSPF at firstphosphate.com

First Phosphate Corp. (CSE:PHOS | OTC:FRSPF)

DISCLOSURE: Pursuant to Section 17(b) of the Securities Act, ZeroHedge discloses that it is being paid by Black Swan Enterprises LLC-FZ, for it’s client, First Phosphate Corp an amount not to exceed $11,000 in connection with the publication of the above content.

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G7 Alliance Backs First Phosphate Project As Tesla, Ford, and Samsung Scramble For Local LFP Battery Chain

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