12:18 PM EST, 03/03/2025 (MT Newswires) -- Arianne Phosphate ( DRRSF ) Monday said a partnership involving Arianne and several other organizations has received a grant of $1.4 million from the Consortium de recherche et d'innovation en transformation metallique (CRITM).

The grant covers an initiative aimed at developing a new process for producing high-purity iron for use in Quebec's lithium-iron-phosphate (LFP) battery cathode manufacturing process. As part of this effort, Arianne will be providing tailings containing magnetite (iron) from its Lac a Paul deposit that will be further processed and purified into the material necessary for these batteries.

Arianne is advancing its efforts towards the development of a downstream facility to produce purified phosphoric acid, another necessary ingredient required for the LFP battery. Both phosphate and high-purity iron were placed on Quebec's critical mineral list in 2024 because of the rapid growth of the LFP battery.

The company's shares were last seen up $0.005 to $0.14 on the TSX Venture Exchange.

Price: 0.14, Change: +0.01, Percent Change: +3.85