First Phosphate's stock soared 20%. At the G7 summit, she spoke about new deals

Shares of First Phosphate, a Canadian small-cap company focused on the mining and processing of phosphates for electric vehicle batteries, soared by more than 18% on the Frankfurt Stock Exchange. At the G7 summit, the company announced new investment and procurement agreements for its products as part of the Partnership for Mineral Security. The G7 countries established the partnership in 2025 to counter “concentration and manipulation” in this market, which is dominated by China.

First Phosphate shares jumped more than 18% on June 18 on the Frankfurt Stock Exchange, reaching nearly €1.19 (as of 9:53 a.m., GMT+2; 12:53 p.m. Astana time). The day before, the company’s shares rose by just under 9% on the Canadian stock exchange, reaching 1.77 Canadian dollars.

The rally was triggered by First Phosphate's announcement of new investment and procurement agreements under the Mineral Resource Security Partnership.

Specifically, according to the press release, the company has received two letters of intent from export credit agencies and industrial partners regarding the development of its fields. One is for a “guarantee” of up to 275 million Canadian dollars (approximately $194.7 million) from the Danish Export-Investment Fund. The other—for an undisclosed amount—is from the Italian export credit agency SACE and its partners.

First Phosphate has also signed definitive, binding contracts with unnamed partners for the annual supply of at least 200,000 metric tons of phosphate concentrate and 60,000 metric tons of phosphoric acid. It is used to process phosphate concentrate, which in turn is used in the production of batteries for electric vehicles, as well as in the energy and semiconductor industries.

“Canada has what the world is looking for. [...] By working with trusted allies, [...] we are strengthening supply chains in Canada and beyond,” said Canadian Minister of Energy and Natural Resources Tim Hodgson (his remarks are quoted in the company’s press release).

Since the beginning of the year, First Phosphate’s stock price has risen by nearly 70% on the Frankfurt Stock Exchange and by 58% on the Canadian stock exchange. The company’s stock has received four ratings from analysts, all of which are “buy.”

The G7 countries established the Partnership for Mineral Security in 2025. Its goal is to create resilient supply chains for critical minerals, as well as to “counter market concentration and manipulation.” This includes “mobilizing capital” to accelerate the implementation of projects.

The G7 countries aim to reduce their dependence on a single (unnamed) importer of rare earth elements to 60% by 2030, and then to 50%, according to a statement released this year. China dominates this market and imposed restrictions on rare earth exports in 2025.

Since the beginning of 2026, 195 projects have been launched to achieve these goals, with total investment in these projects reaching €64 billion, according to a G7 statement.