$200 Million Per Year In Offtake Agreements | John Passalacqua - First Phosphate
The Deep Dive Jun 29, 2026
Summary
First Phosphate reports about $200 million per year in combined offtake value spanning phosphate concentrate and phosphoric acid.
A $275 million guarantee from Denmark's export credit agency and a 200,000-tonne concentrate offtake back the Béjean La Marche mine.
Italian state entities sent letters of interest and Milan-listed Maier Group showed interest in the Porto Sagné phosphoric acid plant.
The guest says G7 support for the LFP (lithium iron phosphate) battery supply chain creates an opening for First Phosphate.
John Passalacqua's takeaways
- Top takeaway Argues that as of June 2026 First Phosphate's offtake deals — 200,000 tonnes of phosphate concentrate and 60,000 tonnes of phosphoric acid — add up to roughly $200 million USD of value per year.
- Points to the $275 million Danish Export Credit Agency guarantee for the Béjean La Marche mine as institutional backing for the project.
- Claims the G7 views the LFP battery supply chain as a strategic prerogative and says a G7 statement came out in favor of First Phosphate and the supporting nation states.
- Cites letters of interest from Italian state entities SACE, CDP and CIMEST, plus interest from Maier Group, for the Porto Sagné phosphoric acid plant.