Mining Stock Education · Thursday, September 17, 2026
First Phosphate has secured a commitment for $212.5 million USD from a Swiss export credit agency for machinery and equipment for its igneous phosphate mine in Quebec. This brings the total committed capital for the mine's construction, estimated at $475 million USD, to over $400 million USD, significantly reducing potential shareholder dilution.
“As you know, the capex for the for the build out of the mine is about 475 million US dollars. We already had a commitment for about 200 million from the Danish sovereign fund and export import bank. And now with this one from the Swiss insurance and export credit agency.”
“You know, it takes the total capex already, uh, committed to over 400 million, 400 million out of the almost 500 million that's needed. So that's almost, you know, 85% of the capex required to build the mine that's already spoken for.”
“So it's tremendous in the sense that the dilution will will will be significantly lower here for shareholders when we have to go and build the mine.”