Why Governments Are Backing This Critical Minerals Project | John Passalacqua - First Phosphate
The Deep Dive Aug 11, 2026
Summary
NRCan provided First Phosphate $16.7 million in non-dilutive funding covering the concentrator, site electricity, and access roads in and out of the property.
Quebec's provincial government launched a fast-track permitting process to advance First Phosphate's igneous phosphate project toward production.
First Phosphate was acknowledged at the G7 summit and supported within the G7 Resilience and Critical Minerals Alliance.
Provincial, federal, and international governments are aligned on bringing First Phosphate's igneous phosphate mine into production quickly.
John Passalacqua's takeaways
- Top takeaway Passalacqua argues First Phosphate is garnering unprecedented multi-tier government backing — from Quebec's fast-track permitting, to NRCan funding, to G7 international recognition
- He frames the March 2026 NRCan grant as covering the "beginning and the end" of the earlier funding round — both the concentrator process and the site's road and electricity infrastructure
- He emphasizes that the funding is non-repayable and non-dilutive, leaving the existing shareholder structure untouched
- He positions the company inside the G7 Resilience and Critical Minerals Alliance, framing the asset as strategically important to Western critical-mineral supply chains