With over 28,335 m2 of space and room for expansion, the lease is for ten years and renewable. However, it’s contingent on First Phosphate securing financing by April 2025, with the project expected to cost C$90 million ($65 million).
First Saguenay is strategically placed 20 km from the deep-sea port of Saguenay. Quebec’s Minister for Saguenay Andrée Laforest highlighted the regional impact: “This facility will benefit both the local economy and Port Saguenay, a key player in this sector’s development.”
The plant will serve as part of First Phosphate’s vertically integrated operation, transforming phosphate from its mines, located about 80 to 120 km away, into cathode active material (CAM).
The company is already in advanced talks with partners, including American Battery Factory and Ultion Technologies, to meet growing demand in the energy storage and electric vehicle sectors. Production is expected to begin in…
