First Phosphate Just Got Backed By The G7 | John Passalacqua - First Phosphate
The Deep Dive Jun 29, 2026
Summary
First Phosphate says its Béjane La Marche mine and Port of Sagné phosphoric acid plant were named in G7 deals.
The G7's Critical Minerals Resilience and Production Alliance targets no single country holding over 60% of a member supply chain by 2030.
Prime Minister Carney announced 13 projects with eight countries; the LFP (lithium iron phosphate) battery supply chain was in focus.
Mark Carney's takeaways
- Top takeaway The speaker says Prime Minister Carney announced 13 projects with eight countries under the G7's Critical Minerals Resilience and Production Alliance at the summit in Evian, France.
- Two of those announced projects involve First Phosphate and span three countries, per the speaker.
John Passalacqua's takeaways
- Top takeaway The CEO calls the G7 naming of two First Phosphate projects the week's big news, arguing it puts the company inside the G7's critical-minerals effort.
- He frames the G7 goal as cutting supply-chain concentration: by 2030 no single country should own more than 60% of a supply chain G7 members are part of, eventually down to 50%.
- He argues the LFP battery supply chain was in focus in the G7's selections and that First Phosphate's projects were mentioned at the summit.
- He points to two deals tied to the announcement: the Béjane La Marche mine and a phosphoric acid plant at the Port of Sagné.