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The latest update is out from First Phosphate Corp. ( (TSE:PHOS) ).
First Phosphate Corp announced that its white paper on securing a North American phosphate supply for LFP cathode materials received a ‘Met’ rating from the U.S. Department of Defense’s Defense Industrial Base Consortium. This rating indicates the proposal’s technical and economic viability, making it eligible for potential funding and development into the first North American phosphate production facility dedicated to LFP cathode active materials. The initiative is crucial for reducing dependency on China for LFP batteries, which are increasingly important for national defense and other industries.
More about First Phosphate Corp.
First Phosphate Corp is a mineral development company focused on producing high-purity phosphate for the lithium iron phosphate (LFP) battery industry. The company employs a vertically integrated approach, linking sustainable phosphate mining in Quebec with North American battery supply chains, and targets sectors such as energy storage, data centers, robotics, mobility, and defense. Its flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean is notable for being one of North America’s rare igneous phosphate resources, providing high-purity phosphate with minimal impurities.
Average Trading Volume: 108,684
Technical Sentiment Signal: Strong Buy
See more data about PHOS stock on TipRanks’ Stock Analysis page.