Moose Lake Phosphate Mining Project
Moose Lake is wholly owned by Glen Eagle Resources and located approximately 100 kilometers north of Chicoutimi, Quebec. Two deep sea ports including the property are easily accessible by road all year long. The nearest ports are located less than 100 km away.
Moose Lake encompasses 108 claims covering approximately 60 square kilometers of land.
Gilles Laverdiere, P.Geo and a Qualified Person under NI 43-101 has read and approved the technical content
What is Phosphate?
Phosphate is a sedimentary rock formed from the accumulation of organic matter over millions of years.
Phosphates are the natural form of the element phosphorus, an essential element for life on earth. In mineralogy and geology, phosphate refers to a rock or mineral containing phosphate ions. It is usually found as calcium phosphate in rock deposits called apatite. Inorganic phosphates are mined to obtain phosphorus for agriculture and industry.
There is no substitute for phosphorus in human, animal or plant nutrition and therefore in food production. In addition, phosphorus is part of many products used in modern life.
As phosphorus is a finite resource, the EU has put phosphorus rock and white phosphorus on the list of Critical Raw Materials. This means that phosphorus must be recovered wherever possible.
Uses of Phosphate
Phosphate fertilizer dependent on the supply of phosphate rock, available in only a few regions.
85 percent of the world’s phosphate production is used for fertilizer with expanding demand for food preservatives, animal feeds and industrial processes. In addition, there’s growing acceptance of lithium-iron-phosphate batteries among electric car manufacturers.
In the global phosphate rock market, supply is dominated by the Middle East and North Africa. About 85 percent of the phosphate rock market is integrated into fertilizer sales with companies and countries selling the manufactured fertilizer.
This year, China has halted exports of phosphate fertilizer and it accounted for about 30 percent of global sales. Observers believe China is ensuring enough supply for its domestic use. Sourcing of phosphate for batteries may also be a contributing factor.
Meanwhile, Russia has established export quotas on many fertilizers, and that has also contributed to the price escalation.
In 2050, to feed 10 billion people on earth, food production will have to increase by 70%. Agriculture will be able to rely less and less on the contribution of phosphorus of sedimentary origin.
Unless the industry develops another form of phosphorus: apatite, which comes from deposits of igneous rocks. The Canadian Shield contains immense reserves of them.
What Do We Use Phosphates For?
- Tartar control in oral products
- Fight forest fires
- Coat the surface of pipes to prevent leaching of lead
- Electronic semiconductor cleaning
- Construction (asphalt, cement)
- Leaven baked goods
- Maintain structure of meat
- Improve fluidity of dairy products
- Mineral supplements
Over 87% of world phosphate production is used for fertilizer
7% Animal Feed
2.7% Other uses
Demand from electric vehicle batteries will spur a group of metals.
2019 V 2030 demand growth
Morocco Phosphate Rock Price
249.50 USD/mt for April 2022