Arianne Phosphate receives strategic investment from a global mining company

Arianne owns the fully permitted Lac à Paul phosphate mining project and is currently advancing work on its proposed downstream phosphoric acid project. The proceeds received from the financing will be used to advance the company’s work on the downstream facility to better quantify the opportunity. The economic benefits of the downstream facility are driven by the conversion of regionally sourced igneous phosphate concentrate into a highly sought downstream product that requires additional supply, particularly originating outside of China.

“This is a significant step forward for the project and the company,” said Brian Ostroff, President of Arianne Phosphate. “This investment comes from a group that has the skill-set to help advance the project and provide us with a catalyst to aggressively move forward.”

The proceeds from the investment will be used to advance the company’s previously announced intention to build and operate a downstream purified phosphoric acid (PPA) plant. As highlighted in the preliminary study, Arianne is looking to construct a facility in the Saguenay region of Quebec, Canada that would convert regionally produced phosphate concentrate into PPA. The two grades of phosphoric acid that would be produced at the facility are a very high-purity PPA known as ‘white acid’, used in the production of lithium-iron-phosphate (LFP) batteries and direct food additives and, a second-tier phosphoric acid used in the production of specialty fertilizers and animal feeds. The facility would look to produce 350 000 tpy of high-purity PPA and 220 000 tpy of the second-tier phosphoric acid. Some of the benefits associated with the proposed facility include: easy access to premium phosphate concentrate, pre-existing logistics, beneficial ESG characteristics and strong economics.

Read the article online at: https://www.worldfertilizer.com/phosphates/11102024/arianne-phosphate-receives-strategic-investment-from-a-global-mining-company/