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First Phosphate gets €170M non-binding backing from Danish export agency for Quebec mining project

Market News
13 Apr 2026
Proactive Investors
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Bullish
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First Phosphate Corp. announced a non-binding letter of intent from Denmark’s export credit agency, EIFO, for a potential guarantee of up to €170 million to support its igneous phosphate mining project in Quebec. This financing would help cover equipment and service purchases in the Saguenay–Lac-Saint-Jean region. The guarantee, if finalized, will be provided to banks funding the project, with EIFO joining other senior lenders. The agreement is subject to conditions like credit approval, due diligence, and environmental and social assessments, with final terms still to be negotiated.

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