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First Phosphate secures $50M funding to advance feasibility study and target 2029 mine operation

Market News
18 Jul 2026
Proactive Investors
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Bullish
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First Phosphate Corp. has raised about $2.3 million recently, adding to over $15 million previously secured, bringing its cash position close to $35 million. Including a $16.7 million non-refundable government contribution, the company has access to roughly $50 million to support its feasibility study, permitting, and investment decision process. The feasibility study is expected to complete by early next year, with a final investment decision targeted by the end of 2027. The company aims to have an operational open-pit phosphate mine by 2029, emphasizing a fast timeline to capitalize on critical mineral demand.

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