First Phosphate and Lithium Australia Sign MOU for Joint Development of an LFP / LFMP Pilot and Commercial Plant
- Written by Reporters
Saguenay, Quebec - Newsfile Corp. - December 6, 2023 - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it has signed a memorandum of understanding ("MOU") with Lithium Australia Limited (ASX: LIT) ("LIT") for the potential development of a lithium iron phosphate ("LFP") and lithium manganese iron phosphate ("LMFP") cathode active material ("CAM") manufacturing plant in North America. LIT has developed proprietary technology to produce LFP / LMFP CAM through its wholly owned subsidiary VSPC Pty Ltd ("VSPC"). LIT is seeking a partner to support the commercialization of its LFP / LMFP technology through the development, construction and operation of a demonstration plant ("Demo Plant") and an eventual commercial scale manufacturing facility ("Commercial Plant"). "This agreement could provide First Phosphate with an important technology avenue for the production of LFP CAM for certain clients of LIT and the Company as well as serve as an important offtake for the Company's future purified phosphoric acid ("PPA") production," says Company CEO, John Passalacqua. "The potential spodumene offtake that could be contributed into the agreement could eventually provide the Company with access to an important element necessary in the manufacture of LFP / LMFP CAM." The terms of the agreement include:
- LIT to provide samples of LFP and LMFP to First Phosphate to enable CAM pre-qualification for First Phosphate potential clients.
- Facilitation of LFP / LMFP CAM offtake discussions for LIT and First Phosphate potential clients.
- Provision to LIT by First Phosphate of PPA samples for suitability in the production of LFP and LMFP CAM.
- Agreement on PPA offtake for the Demo Plant and Commercial Plant.
- Advancement of joint development and funding discussions for a 250-500 tonne per annum ("tpa") LFP / LMFP Demo Plant based on LIT LFP / LMFP production technology.
- Agreement on a joint development agreement ("JDA") and associated funding by LIT for the development of a full scale commercial plant of 25,000 tpa or greater to serve LIT and FPC potential offtake clients.
- The locating of the Demo Plant and Commercial Plant either in Queensland, Australia or in North America.
The issuer is solely responsible for the content of this announcement.
About First Phosphate Corp.
Source https://www.media-outreach.com/news/canada/2023/12/06/265911/