Fertoz celebrates Phosphate’s inclusion in Canada’s 2024 minerals list

Money Bizwiz Team
4 Min Read

Welcome to Fertoz Ltd: A Critical Mineral for a Sustainable Future

Fertoz Ltd (ASX:FTZ) (Fertoz or the Company) is pleased to announce the inclusion of phosphate in Canada’s 2024 Critical Minerals List, marking it as a critical mineral for the first time.


Canada’s Minister of Energy and Natural Resources, Jonathan Wilkinson, unveiled the updated list on June 10, 2024. The decision highlights the crucial role of phosphate in enhancing food security both in Canada and globally, as well as supporting the energy transition. Phosphate serves as a direct fertilizer and is also an essential component in fertilizer products like Fertoz’s innovative Fertify™ pelleted product, playing a vital role in maintaining and improving soil health for food crops. The addition of phosphate to this list underscores the significance of this mineral and the increasing recognition of its necessity.

In addition to its use in fertilizers, phosphate plays a key role in the renewable diesel and sustainable aviation fuel industries. It is also a critical mineral for the production of lithium iron phosphate (LFP) batteries, which are commonly used in electric vehicles and experiencing a surge in demand.

Fertoz’s Wapiti and Fernie rock phosphate projects, home to substantial, high-quality deposits of organic rock phosphate in British Columbia, Canada, will benefit from this designation. Furthermore, Fertoz’s customers, who heavily rely on phosphate for sustainable and regenerative fertilizer products, will also see advantages from this announcement.

Fertoz Ltd Managing Director and CEO Daniel Gleeson stated: “The inclusion of phosphate in the critical minerals list underscores the significance of this depleting resource, which is essential for food production and crucial for transitioning to a sustainable, low-carbon economy.”

The Canadian Government has made substantial investments to support the development of critical mineral projects and related value chains. These investments include the $1.5 billion Strategic Innovation Fund, the $1.5 billion Critical Minerals Infrastructure Fund, the Indigenous Natural Resources Partnerships Program, and Indigenous grants linked to critical minerals infrastructure.

Projects focusing on minerals listed in Canada’s 2024 Critical Minerals List, such as phosphate, may qualify for additional funding, incentives, and support from:

  • The Canada Growth Fund;
  • The Business Development Bank of Canada;
  • Export Development Canada;
  • The Canada Infrastructure Bank;
  • Sustainable Development Technology Canada; and,
  • Scientific Research and Experimental Development tax incentives.

Fertoz will explore these funding incentives to determine their suitability for Fertoz International (the Company’s Canadian subsidiary) to apply at a later date if deemed applicable.

Additionally, the Canadian Government is streamlining the permitting process for the development of critical mineral projects, a move that could prove advantageous for Fertoz.

Click here for the full ASX Release

This article contains content from Fertoz Limited, licensed for publication on Investing News Australia. It does not constitute financial product advice. Readers are advised to conduct proper due diligence before making any investment decisions. Please refer to our full disclaimer.

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