First Phosphate shares jump 18% after Agnico Eagle-backed Avenir acquires Fox River in igneous phosphate shakeup

Shares of First Phosphate Corp. rose nearly 18% following Avenir Minerals' acquisition of Fox River Resources for C$94.3 million, marking a major move in North America's igneous phosphate sector. Fox River's Martison Phosphate Project in Ontario is a key asset supplying phosphate fertilizers and materials for lithium iron phosphate batteries. This deal highlights growing interest from major miners like Agnico Eagle in critical minerals, leaving First Phosphate as one of the few remaining igneous phosphate projects in North America with strong economic prospects.