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1 in 2 Population in Singapore are unable to live their desired quality of life: AIA Live Better Study 2023 reveals worrying huge gaps in consumers’ well-being and happiness

Consumer survey insights showed a holistic wellness score of 61.7 amongst Singapore consumers, propelling the launch of AIA Health360, a comprehensive overview of solutions that support consumers in their journey toward holistic wellness

SINGAPORE – Media OutReach – 27 July 2023 – AIA Singapore today released the findings from its AIA Live Better Study 2023[1], revealing that against mounting economic uncertainties, which have taken a toll on individuals’ overall quality of life, 1 in 2 Singapore consumers acknowledge that they are far from achieving their goal of holistic wellness, which cuts across five key aspects – financial, physical, mental, spiritual[2] and socio-environmental.

[Infographic] Insights from AIA Live Better Study 2023
[Infographic] Insights from AIA Live Better Study 2023

These figures starkly contrast the 83% of survey respondents who believe that holistic wellness is the key to help them achieve healthier, longer, better lives.

The AIA Live Better Study 2023, investigated the current state of wellness, goal-setting behaviour, commitment, confidence, and progress within each key facet of wellness.

Melita Teo, Chief Customer and Digital Officer of AIA Singapore, says, “As Singapore’s cost of living continues to rise and economic uncertainties persist, we have become increasingly focused on being financially prepared for the long term. This focus on financial wellness should not come at the expense of neglecting other aspects of our well-being, such as physical and mental health. Doing so can cause repercussions on an individual’s overall health and happiness, and can even lead to chronic illnesses, stress, and burnout. To live healthier, longer, better lives, it is crucial that we start taking a more holistic approach to managing our well-being.”

Key survey results

Amongst numerous other insights, the survey brought the following statistics to light:

Illnesses are the key concern for 63% of Singaporeans
. This comes as no surprise, given the well-known issues of Singapore’s rising cost of living, particularly in healthcare. Cancer ranks highest in respondents’ concerns, cutting across multiple age groups, followed by Cardiovascular diseases, Bone/joint/muscle problems, Diabetes, and Neurological disorders like dementia, which consumers as young as 25 years old are already greatly concerned about.

Adults between 35 to 55-year-old age group,
many of whom are married with children, find themselves struggling with work, family obligations, and a lack of motivation. As a result, 47% of this age group feel that their physical fitness level is not up to par, and 56% find it challenging to achieve physical wellness. In general, consumers find regular health screenings challenging, due to the necessary financial and time investments needed to do so.

More than 3 in 5 Singaporean consumers surveyed also expressed concern over mental health issues. Within the 35 to 44-year-old age group, almost 20% have reported that they are currently suffering from depression. Respondents within the 25 to 40-year-old age range further expressed that financial concerns are the main factor in exacerbating mental health issues.

Young consumers aged 18 to 24 years old are prioritising their financial wellness early in life by actively investing. 50% of respondents in this age group are growing their investment portfolios, while 30% have acquired insurance protection in the past year.

Despite having ambitious financial goals, 3 in 5 young consumers fail to constantly update their financial knowledge and track their progress regularly, putting them at risk of not being able to achieve their goals, which will in turn negatively impact their financial well-being.

A distinct lack of planning

While respondents across the board show awareness that holistic wellness brings about a happier and more fulfilling life, a deeper look into their goal-setting behaviour revealed a lack of proactiveness amongst Singaporeans in making their holistic well-being a reality.

Amongst Singapore consumers who have not done any financial planning in the last 12 months, 40% have indicated that they are unsure in how go about it. Those who have planned, on the other hand, cite the following challenges that most commonly impact their planning goals:

  • 33% face unexpected expenses that have not been budgeted for
  • 26% struggle to adhere to their budgets consistently
  • 25% make impulsive purchases, leading to overspending

While the study’s results show that Singapore consumers have a higher aptitude on being slightly better at planning for their financials such as in setting goals for financial wellness, respondents have revealed that they have lesser knowledge, interest, and motivation in planning physical, mental, and socio-environmental wellness goals, placing relatively lower priorities on non-financial aspects of wellness.

AIA Health360

As a leading life insurer, AIA Singapore is committed to better supporting Singaporeans’ need in planning better for their holistic wellness. In line with AIA’s One Billion movement across all its markets of engaging one billion people to live Healthier, Longer, Better Lives, AIA Singapore has launched AIA Health360, a comprehensive suite of solutions that, in totality, will serve to address the financial, physical, and mental wellness needs of customers, offering all-rounded care and protection for every major facet of wellness.

Built upon four key pillars, AIA Health360 encompasses the gamut of total wellness, enabling consumers to achieve their goals for holistic wellness by reminding them to:

Plan Well with AIA’s suite of comprehensive financial planning tools, insights, and instruments. AIA Singapore has been helping more than one million Singaporeans in their health and financial planning for over 90 years. Customers can connect securely and view their financials collectively at one glance with the super-tool, My AIA SG app[3] which is enabled by SGFinDex. Through this, they have access to view all their financial data from insurers, banks, SGX and government agencies such as CPF, HDB and IRA.

Protect Well with comprehensive insurance solutions, spanning health, life, savings and investment, accident protection, wealth and legacy protection, as well as travel and lifestyle needs.

Be Well with a full span of healthcare services curated to support customers through their healthcare journey. We do so by building a strong and comprehensive health and wellness partner ecosystem to help our customers diagnose the illness, treat it and recover well. Specialist consultation appointments with AIA Healthcare Partners can be made through My AIA SG, AIA’s Healthcare Support website or AIA’s medical concierge, where customers can secure their appointment within 1 working day, GP video consultations are available via WhiteCoat and professional advice for serious medical conditions are available via Teladoc Health. Hospitalisation and surgery costs can be managed and planned for with pre-authorisations, while claims can also be made seamlessly on the super-tool, My AIA SG.

Live Well with the award-winning and first in market wellness programme, AIA Vitality as your personal cheerleader for health. AIA Vitality has been supporting its members to live healthier, longer, better lives, by rewarding them with exclusive partner rewards and benefits when they achieve fitness milestones through positive behavioural changes. Since the introduction of AIA Vitality in Singapore in 2013, members who reported unhealthy results in initial health checks have made significant improvements in their health.

Through these four pillars, AIA Singapore aims to partner Singaporeans in taking charge of their holistic wellness, helping them achieve their desired lifestyle at every stage of life.

More information on AIA Health360 may be found at aia.com.sg/aiahealth360.


[1] AIA Live Better Study 2023 was conducted from November 2022 with more than 500 Singapore consumers each quarter, from aged 18 to 55+.

[2] The ability to be in tune with oneself, in terms of sense of purpose, meaning in life, morals and ethics.

[3] The My AIA SG app is well received by Singaporeans as it boasts an average rating of 4.4 out of 5.0 on Apple’s App Store, with an 850,000 user base and 600,000 monthly visits on the app. Today, 90% of service requests are submitted digitally, a testament to AIA Singapore empowering customers through self-service technology.

Hashtag: #AIASingapore

The issuer is solely responsible for the content of this announcement.

About AIA

AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR(2), and a 49 per cent joint venture in India.

The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$303 billion as of 31 December 2022.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 41 million individual policies and over 17 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).

Two Cement Plants in Vang Vieng to be Transformed into Tourism Sites

Cement Plant Factories in Vangvieng (Photo: Lao Economic News)

Two Cement factories in Vang Vieng will be transformed into tourism sites and developers are currently applying for an investment permit for the project, which is expected to be approved in August.

Seven in Ten Consumers Are Willing to Make Changes to Tackle Environmental Issues

  • Independent research shows lack of information and high prices are the main barriers for consumers to make more sustainable purchases
  • Businesses can play a significant role in making it easier for consumers to make consciously sustainable choices and earn more trust from consumers
  • Alibaba Group’s latest ESG report reveals that over 180 million consumers participated in carbon emission reduction through its carbon ledger platform

HANGZHOU, CHINA – Media OutReach – 27 July 2023 – A vast majority (73%) of consumers want to live more sustainable lifestyles, particularly among those living in emerging Asian markets (87%), but inconvenience and high costs are cited as main stumbling blocks to the adoption of sustainable lifestyles, finds the latest independent research commissioned by Alibaba Group.

The research, titled “The Sustainability Trends Report 2023”, polled more than 14,000 consumers from 14 markets across Asia, Europe and the Middle East. It finds that convenience (53%) and affordability (33%) are critical for driving behavioral changes on consumer sustainability and businesses can make it easier for consumers to make sustainably conscious choices.

But consumers are cynical (38%) towards the underlying motivation of businesses’ “sustainable” products, with only 15% saying that they completely trust claims around sustainability of products. Businesses need to work harder to build trust among those consumers, especially among people living in European markets.

“As a digital platform company, Alibaba is uniquely positioned and committed to addressing the ‘say-do’ gap challenge; by reducing the inconvenience obstacle, adding more sustainable choices, and optimizing supply chains to keep costs reasonable for consumers. Sustainable consumption is crucial for the environment, and in the meantime it provides a great opportunity for businesses, as well as the digital economy as a whole, to have a long-lasting development into a sustainable future for all,” said Liu Wei, Alibaba Group ESG Strategy Lead.

Alibaba published its latest Environmental, Social and Governance (ESG) Report in late July where for the first time it disclosed its Scope 3+ decarbonization progress since it pioneered the concept in 2021 for a wider pledge of carbon emission reduction across its ecosystem.

Alibaba’s carbon ledger platform has seen a total number of 187 million consumers participating in carbon emission reduction activities in the 12 months leading to March 31, 2023 with 1.91 million products from 409 brands offered on Tmall and Taobao through its low-carbon friendly products program as of March 2023, its latest ESG report revealed.

Consumers from the emerging Asian markets are the most willing to learn how to make more sustainable purchase online

Consumers globally are embracing more sustainable lifestyles, but there are variations across regions in the level of engagement and how they want to live and shop more sustainably.

The research finds around three in four consumers (76%) would welcome more information about how to be more sustainable. The proportion is highest in the Philippines (93%), Indonesia (91%), and UAE (90%).

Over half (58%) of consumers say they’ve already engaged with sustainable practices and they feel they are already personally doing a great deal. There’s also a general openness towards learning about sustainable online practices, with an average of 73% saying that they would welcome more information about how to make purchases online that are more sustainable.

Respondents from emerging Asian markets (88%) show higher willingness to learn how they can make purchases online that are more sustainable compared with developed Asian markets (66%) and Europe (66%). The sustainable online shopping behaviors also differ across regions, with emerging Asian markets (47%) more inclined to choosing sustainable packaging whereas those in Europe (47%) tend to recycle more.

Half of the consumers would only go sustainable if it’s convenient; with a third believing sustainability is not affordable

Lack of information on how products are sustainable (48%) and the prices of sustainable products being too high (45%) are cited as the main barriers for consumers to make more sustainable purchases.

Over half of the consumers (53%) surveyed say they would only make sustainable choices if they were convenient, which is especially the case in Asian markets (61%) compared to European markets (36%). A third (33%) say living sustainably is not affordable, with Thailand (84%) leading the pack, followed by UAE (41%) and Spain (37%).

Amid the shifting consumer sentiments, businesses can play a significant role in making it easier for consumers to make sustainable conscious choices, the report finds. Making sustainable products more affordable (61%), making fewer products using single-use plastics and packaging (55%) and a wider selection of sustainable products and services (47%) are the top three ways consumers say businesses can do to promote consumer sustainability.

But businesses need to work harder to build trust among consumers on their sustainability claims, especially among those living in European markets, said the research. 23% of consumers say they “do not trust very much” the claims around sustainability of products from businesses, with the highest proportion in France (31%), Spain (31%) Germany (30%) and the U.K. (30%).

Nearly two in five consumers (38%) are cynical towards the underlying motivations of businesses’ sustainable products, with Thailand (56%), France (48%) and Singapore (47%) as the top three markets where consumers say sustainable products are just a way for companies to sell their products at a higher price.

“We believe companies can better earn trust from consumers by addressing their own ‘say-do’ gap, such as being more transparent and committed with their sustainability claims, and backing their sustainable practices with data. This will also lead to greater empathy towards consumers along our common journey of sustainability,” Liu Wei added.

About the survey:
“The Sustainability Trends Report 2023” was conducted by Yonder Consulting, a UK-based consulting firm, with advisory and analysis support by Hong Kong-based sustainability consultancy, The Purpose Business, between January 26 to February 14, 2023, based on feedback from 14,125 consumers to an online survey.

Respondents of the survey are located in fourteen markets across Asia, Europe and the Middle East including: Germany, France, Italy, Spain, U.K., Indonesia, Malaysia, Philippines, Thailand, South Korea, Hong Kong SAR, Japan, Singapore and the UAE.

Asian developed markets referred in this research include Hong Kong SAR, Japan, Singapore and South Korea, while Asian emerging markets refer to Indonesia, Malaysia, Philippines and Thailand.

Hashtag: #AlibabaGroup

The issuer is solely responsible for the content of this announcement.

About Alibaba Group:

Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

Power Healthy Relationships with Food in Your Home and Community

The Sustainable Restaurant Association launch the ‘Power of Food’ global campaign in partnership with HSBC, alongside local Hong Kong names like Michelin Star Chef Shane Osborn, Celebrity Chef Christian Yang, actress and foodie Grace Chan and local Hong Kong charity, Food Angel.

HONG KONG SAR – Media OutReach – 27 July 2023 – This month, The Sustainable Restaurant Association (The SRA) together with HSBC launch a global awareness campaign to promote social sustainability in the hospitality industry and beyond. The ‘Power of Food’ campaign showcases the importance of food as a medium of connection and will highlight the ways in which global chefs and restaurateurs are using food to make a difference with their local communities, families, schools and under-served populations. Hong Kong household names taking part include Chef Shane Osborn alongside celebrity chef Christian Yang and actress, Grace Chan. Local food rescue and assistance program Food Angel will also take part. The campaign will highlight the ways in which ‘breaking bread’ with family and through communities can make a difference every day. 16 notable hospitality personalities and organisations from around the world will join hands to take part in the ‘Power of Food’ campaign in July and August spanning Hong Kong, Singapore, UK & UAE.

The SRA runs the world’s largest holistic sustainability accreditation – Food Made Good – for the global hospitality sector. Currently there are over 3,600 hospitality business with a Food Made Good accreditation globally, with 30 members in Hong Kong. ‘Feed People Well’ and ‘Support the Community’ are key components of the Food Made Good Framework under the ‘Society’ pillar, which reflects the broader connections that any sustainable business needs to foster.

‘Food and Family’ will be the first focus of the summer campaign, focusing on the importance of taking the time to cook and eat with family. This is crucial for strengthening familial relationships, sharing valuable knowledge on nutrition, flavour and food sourcing and teaching essential, real-world life skills. Studies* show that involving kids in cooking is associated with more positive food choices. Early education is paramount to the next generation’s relationship with food and their understanding on how nutrition fits into a healthy lifestyle.

Throughout the campaign, well-known faces from the hospitality industry will share a variety of ideas across social media that can be genuinely useful for families. This will range from simple recipes that kids can help with, to tips that teach them about growing produce and forming new connections with the origins of their food.

‘Food and Community’ will be the second focus of the campaign, demonstrating the integral role that food plays in building connections within local communities. Derived from The SRA’s Food Made Good Standard**, this campaign celebrates everyone’s right to access good, nutritious food and showcases ways to support each other through this powerful medium. The SRA will be championing chef-led initiatives around the world, highlighting how they are contributing to the communities around them in meaningful ways – this could be providing access to nutritious meals, creating jobs and/or supporting people who have experienced social disadvantage. There are some fantastic participants confirmed for this initiative, ranging from major players in the scene to those quietly going about their important work: Food Angel (Hong Kong), Open Farm Community (Singapore) and Luminary Bakery (UK) to name just a few.

The ‘Power of Food’ campaign has been produced as part of a wider partnership between The SRA and HSBC. Earlier this year, the two organisations partnered on More Taste, Less Waste, a series of short films showcasing how restaurants around the world are utilising some of our most wasted food ingredients to reduce waste in kitchens. In its totality, the partnership aims to highlight the fundamental role food has in our lives: for our environment, for our societies and for our collective futures.

Juliane Caillouette Noble, Managing Director of The SRA, said: “The Power of Food is something that we at The SRA are incredibly passionate about, and we’re proud to be working with HSBC to harness a powerful, global voice as a valuable resource and contribution to our cause. Society is an area that many people might not consider when they talk about sustainability, but its impact is huge – that’s why it’s a key pillar of our Food Made Good Standard. Food’s role within family and community life is a wonderful and powerful thing – nothing can bring people together like food does. It’s our responsibility and mission to champion this around the world, and it contributes to our greater cause of sustainability within food. Education and knowledge are paramount in this.

A table is a table; whether in a house, on the side of a road, in a restaurant or otherwise, and we want to encourage everyone to have a seat at it, to be inspired and comforted by the power of food – emotionally as well as physically and nutritionally.”

The SRA works in partnership with HSBC to build thought-provoking campaigns that explore sustainability issues around the world. This partnership allows The SRA to incorporate holistic sustainability criteria and messaging across HSBC’s considerable food and drink platform, creating opportunities to have a meaningful impact and effect positive change on a global scale.

Jon Lane, Global Head of Brand Partnerships at HSBC, said: At HSBC, we believe that food opens up a world of opportunity by bringing people and cultures together. We are proud to support The Sustainable Restaurant Association in its mission to use food to drive connection, and further encourage our understanding of sustainability initiatives for the industry. The Power of Food campaign truly captures the important role which food plays in our lives; both with families and across communities.”

More participants will be announced as the campaigns go live. For more information, please visit: https://thesra.org/

Hashtag: #PowerofFood #sustainablerestaurantassociation #foodmadegood #foodandfamily #foodandcommunity

The issuer is solely responsible for the content of this announcement.

About The Sustainable Restaurant Association

Since 2010, The Sustainable Restaurant Association has set the Standard for sustainable food and drink businesses around the world. The SRA connects businesses across the globe to accelerate change toward a hospitality sector that is socially progressive and environmentally restorative through the world’s largest sustainability certification tailored for the sector: Food Made Good.

Designed specifically to support businesses serving food to tackle the urgent and complex problems facing the global hospitality sector and wider food system, Food Made Good consists of three distinct and complementary elements: the Food Made Good Framework, which clearly defines what sustainability means for the sector; the Food Made Good Standard, the only 360-degree, holistic assessment for measuring progress tailored for foodservice businesses; and the Food Made Good Community, an online global network of hospitality professionals sharing challenges, ideas, resources and solutions to fuel progress within the industry.

*Some studies conclude that involving kids in cooking is associated with more positive food choices:

**The SRA’s new global Food Made Good standard launched on 12th June and is the only global sustainability accreditation designed specifically for the hospitality industry. Businesses wishing to begin the journey to sustainability can find out more information via. Those ready to sign up should visit standard.foodmadegood.org.

First Phosphate Announces Positive Results of Preliminary Economic Assessment at Its Lac à L’Orignal Property in Quebec, Canada

Saguenay, Quebec – Newsfile Corp. – July 26, 2023 – First Phosphate Corp. (CSE: PHOS) (OTC Pink: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce the positive results of its Preliminary Economic Assessment (“PEA“) on the Lac à l’Orignal Property (the “Property” or the “Project“) located 84 km northeast of Saguenay, Quebec, Canada.

First Phosphate acquired and negotiated a 100% royalty free interest in the Property in 2022. The PEA provides a viable case for developing the Property by open pit mining for the primary production of a phosphate concentrate and secondary recovery of magnetite and ilmenite concentrates. First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for use in the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry.

Highlights (all dollar amounts in Canadian dollars on a 100% project ownership basis unless otherwise indicated):

  • The Project would produce annual average of 425,000 tonnes of beneficiated phosphate concentrate at over 40% P2O5 content, 280,000 tonnes of magnetite and 97,000 tonnes of ilmenite over a 14.2 year mine life.
  • The Project generates a pre-tax internal rate or return (IRR) of 21.7% and a pre-tax net present value (NPV) of $795 Million at a 5% discount rate at June 30/23 approximate 18 month trailing average phosphate price and long term consensus magnetite and ilmenite prices.
  • The Project generates an after-tax internal rate or return (IRR) of 17.2% and an after-tax net present value (NPV) of $511 million at a 5% discount rate at June 30/23 approximate 18-month trailing average phosphate price and long term consensus magnetite and ilmenite prices.
  • The Project would generate an after-tax cash flow of $567 Million in years 1-5, resulting in a 4.9-year payback period from start of production.
  • The Company has an MOU in place with Prayon Technologies of Belgium for up to 400,000 tonnes of annual phosphate concentrate offtake as well as a long-term purified phosphoric acid toll processing agreement.
  • The Project benefits from nearby road access and electrical power line, year round accessible deep sea Port of Saguenay at 107 km by four season road.
  • The PEA used Indicated and Inferred Mineral Resources in its calculations.
  • The Project has no outstanding royalties or financing streams registered against it.

“We are very pleased with the results of this Preliminary Economic Assessment of our Lac à l’Orignal property and its timely completion. Our strategy to keep capex low and mine size controlled echoes these PEA results nicely,” says First Phosphate President, Peter Kent. “We’re now in a position to prudently evaluate next steps for the Company as we continue with our mission to apply a partnership-based approach to integrate vertically from mine to value-added production of purified phosphoric acid and LFP cathode active material for the North America LFP battery industry.”

PEA BASE CASE FINANCIAL SUMMARY (all dollar amounts in $Canadian unless otherwise noted, presented on a 100% ownership basis):

Pre-Tax Net Present Value (5% discount rate) $795 Million
After-Tax Net Present Value (5%) $511 Million
Pre-Tax Internal Rate of Return 21.7%
After-Tax Internal Rate of return 17.2%
After-Tax Payback 4.9 Years
Preproduction Capital $550 Million
Sustaining Capital $130 Million
Mine Life 14.2 Years
Process Plant Throughput 10,500 tpd
Concentrate Prices
Phosphate (40% P2O5) $367/t USD
Magnetite (69% Fe) $95/t USD
Ilmenite (39% TiO2) $250/t USD
Exchange Rate $CAD:$USD $1.32

PEA TECHNICAL SUMMARY

Mine Life 14.2 years
Mine Plan Tonnage 54.0 Million tonnes
Process Plant Feed Grade
P2O5 4.91%
Fe2O3 22.62%
TiO2 4.14%
Strip Ratio (Waste:Process Plant Feed) 1.7:1
Operating Cost (per tonne of process plant feed) $30.43

Pit-Constrained Mineral Resource Estimate (1-4) at 2.5% P2O5 Cut-off
Class Tonnes
(M)
P2O5
(%)
Contained P2O5
(kt)
Fe2O3
(%)
Contained Fe2O3
(Mt)
TiO2
(%)
Contained TiO2
(Mt)
Indicated 15.8 5.18 821 23.90 3.8 4.23 0.67
Inferred 33.2 5.06 1,682 22.55 7.5 4.16 1.38

Note: P2O5 = phosphorus pentoxide, Fe2O3 = iron oxide/ferric oxide, TiO2 = titanium dioxide.

  1. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
  2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation socio-political, marketing, or other relevant issues.
  3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  4. The Mineral Resources in this Technical Report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

Cannot view this image? Visit: https://laotiantimes.com/wp-content/uploads/2023/07/174806_b00d00acd48efa5e_001.jpg

Figure 1 – Lac Orignal Project – Optimized Pit Shells

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8917/174806_b00d00acd48efa5e_001full.jpg

The mining plan uses conventional truck/shovel open pit methods employing 90-tonne capacity haulage trucks and shovels equipped with 10 cubic metre buckets. The open pit will be mined over a period of 14.2 production years and one year of pre-stripping. Mineralized material will be transported by haulage trucks to the nearby process plant, and waste rock will be stored at a facility located at 1 (one) kilometer southeast of the open pit. Mining will be conducted at an initial rate of 8 Million total tonnes per annum (Mtpa), and will reach a peak of 14 Mtpa based on process plant feed and waste rock removal requirements.

The process plant feed is contained within an optimized subset of the Mineral Resource set out in the table above. The open pit contains 54.0 Mt of process plant feed (inclusive of mining dilution and loss factors) averaging 4.91% P2O5, 22.62% Fe2O3 and 4.14% TiO2. The process plant feed is associated with 91 Mt of waste rock and overburden resulting in an overall life-of-mine strip ratio of 1.7:1. It is notable that all Mineral Resources considered for mining are in the Indicated and Inferred classifications. No backfilling of the mined-out open pit with either waste rock or tailings is planned, which will allow potential open pit wall pushbacks and future mining if economic conditions become favourable.

Extensive metallurgical testing was carried out at SGS, Quebec City. The test work has indicated process recoveries of phosphate, magnetite and ilmenite to be reasonably high and relatively consistent. The most recent tests focused on circuit stability and maximizing concentrate recovery.

Tailings and waste rock management is designed for closure and the elimination of concerns for acid drainage or metal leaching.

Initial Capital Costs ($Canadian Millions)

Pre-Stripping 30
Processing Plant 215
Tailings Management Facility 42
Indirects, EPCM and Owner’s Costs 110
Site and Port Infrastructure 62
Contingency 91
Total Initial Capital 550

Sustaining Capital ($C Millions)

Mining 46
Processing Plant 6
Tailings Management Facility 56
Contingency 22
Total Sustaining Capital 130

LOM Operating Costs ($C per tonne)

Mining Cost per tonne mined material (waste and mineralized material 2.77
Mining Cost per tonne plant feed 7.48
Processing Cost per tonne plant feed 12.60
G & A per tonne plant feed 1.67
Tailings Management 1.85
Concentrate Handling and Transport 6.83
Total Cost per tonne plant feed 30.43

The Project site is within the Mashteuiatsh, Essipt and Pessamit First Nations, which confers certain rights to aboriginal peoples in the area. First Phosphate recognizes the traditional rights of Indigenous people and acknowledges the exercising of treaty rights to preserve their cultural identity and customs. As such, since acquisition of the Property, First Phosphate has continued to regularly meet with communities to acquire information and incorporate feedback into the Project decision-making process. First Phosphate is striving to ensure these partnerships have a mutually beneficial outcome and to maintain strong and long-lasting relationships. First Phosphate and its’ predecessors have been engaged in consultation and negotiations with a number of aboriginal communities with respect to the Project since 2022.

Qualified Persons

The scientific and technical disclosure for First Phosphate included in this News Release have been reviewed and approved by Gilles Laverdière, P.Geo. and Mr. Eugene Puritch, P.Eng., FEC, CET. Messrs. Laverdière and Puritch are Qualified Persons under National Instrument 43-101 Standards of Disclosure of Mineral Projects. Mr. Puritch is independent of First Phoshate.

About First Phosphate Corp.

First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.

About P&E Mining Consultants Inc.

P&E was established in 2004 and provides geological and mine engineering consulting reports, Mineral Resource Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies. P&E is affiliated with major Toronto based consulting firms for the purposes of joint venturing on Feasibility Studies. P&E’s experience covers over 400 NI 43-101 Technical Reports including First Phosphate’s Lac à l’Orignal NI 43-101 Mineral Resource Estimate which was completed in November 2022.

For additional information, please contact:

Peter Kent, President
peter@firstphosphate.com
Tel: +1 (647) 707-1943

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

-30-

Forward-Looking Information and Cautionary Statements

Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that the Indicated Mineral Resources will be converted to the Probable Mineral Reserve category, and there is no certainty that the updated Mineral Resource statement will be realized.

The Mineral Resource Estimate contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such Mineral Resources. See the Resources Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

The PEA is preliminary in nature, includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The PEA is subject to a number of risks and uncertainties. See below and the Technical Report for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company’s commitment to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s plans to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s proposed development of its land claims in the Saguenay Region; the results of the PEA, statements regarding the impact and implications of the economic statements related to the PEA, such as future projected production, costs, including, statements with respect to Mineral Resource Estimates, recovery rates, IRR, NPV, mine life, CAPEX, payback period, sensitivity analysis to mineral prices, timing of future studies including the pre-feasibility study, environmental assessments (including the timing of an environmental impact study) and development plans, the Company’s understanding of the project; the potential to extend mine life beyond the period contemplated in the PEA, opportunity to expand the scale of the project, the development potential and timetable of the project; the estimation of Mineral Resources; realization of Mineral Resource Estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; and success of exploration activities.

Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company’s ability to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s ability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s ability to develop its land claims in the Saguenay Region; accuracy of the results of the PEA; accuracy of the statements regarding the impact and implications of the economic statements related to the PEA, such as future projected production, costs, including, statements with respect to Mineral Resource Estimates, recovery rates, IRR, NPV, mine life, CAPEX, payback period, sensitivity analysis to mineral prices, timing of future studies including the Pre-Feasibility Study, environmental assessments (including the timing of an environmental impact study) and development plans; the Company’s ability to carry out its plans for its projects; the ability of the Company to extend mine life beyond the period contemplated in the PEA; the ability of the Company opportunity to expand the scale of the project; the ability of the Company to carry out the development potential and timetable of the project; the accuracy of the estimation of Mineral Resources; the Company’s ability in realizing its Mineral Resource Estimates; the Company’s ability in carrying out the timing and amount of estimated future exploration; the accuracy of costs of future activities; the accuracy of the Company’s capital and operating expenditures estimates; and the Company’s ability to carry out and achieve successful exploration activities.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to produce high purity phosphate materials at full ESG standard under a low carbon footprint; the Company’s inability to integrate directly into the functions of certain major North American LFP Battery producers; the Company’s inability to develop its land claims in the Saguenay Region; inaccuracy of the results of the PEA; inaccuracy of the statements regarding the impact and implications of the economic statements related to the PEA, such as future projected production, costs, including, statements with respect to Mineral Resource Estimates, recovery rates, IRR, NPV, mine life, CAPEX, payback period, sensitivity analysis to mineral prices, timing of future studies including the Pre-Feasibility Study, environmental assessments (including the timing of an environmental impact study) and development plans; the Company’s inability to carry out its plans for its projects; the inability of the Company to extend mine life beyond the period contemplated in the PEA; the inability of the Company opportunity to expand the scale of the project; the ability of the Company to carry out the development potential and timetable of the project; the inaccuracy of the estimation of Mineral Resources; the Company’s inability in realizing its Mineral Resource Estimate; the Company’s inability in carrying out the timing and amount of estimated future exploration; the inaccuracy of costs of future activities; the inaccuracy of the Company’s capital and operating expenditures estimates; and the Company’s inability to carry out and achieve successful exploration activities.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The issuer is solely responsible for the content of this announcement.

About First Phosphate Corp.

AI Singapore Awards S$20M in Research Funds to Address Challenges Relating to Increase Use of AI in Emerging Apps

Research outcomes have potential for dual-use applications, for leverage by both the industry & defence

SINGAPORE – Media OutReach – 26 July 2023 – AI Singapore (AISG) announced today that it will award up to S$20 million, through the Robust AI Grand Challenge and the AI for Materials Discovery Grand Challenge, to support five multidisciplinary teams which will address challenges related to the increasing use of AI in emerging applications.

SMS Heng giving a speech at the Joint Grant Awards Ceremony..JPG

AISG launched both Grand Challenges in December 2022 in collaboration with the Future Systems and Technology Directorate (FSTD), MINDEF Singapore, and DSO National Laboratories (DSO).

Each Challenge is a first-of-its-kind and represents a major milestone in research collaboration between the academia and defence ecosystems. The research outcomes will have the potential for dual-use applications and can be leveraged by both the industry and defence to benefit Singapore.

The grant awards were presented by Mr Heng Chee How, Senior Minister of State for Defence at the Joint Grant Awards Ceremony.

In his speech, Mr Heng said, “The advancement of Artificial Intelligence (AI) will open up new possibilities and MINDEF/SAF is poised to harness its power to build important capabilities for our future. MINDEF’s approach is to collaborate extensively with local and global partners from research institutes, and institutes of higher learning and industry. MINDEF’s Defence Technology Community, which designs and develops technological capabilities for the SAF, will play a key role in this effort.

“Moving forward, we will also be expanding our partnerships with industry, to accelerate progress in developing AI technologies and applications. I encourage the various communities to come together to co-ideate and co-innovate. I would like to invite all researchers and practitioners with bold ideas to reach out to us. Together, let’s collaborate, innovate and build an exciting and better future, he added.”

Professor Mohan Kankanhalli, Deputy Executive Chairman for AISG, said that the current development efforts and outcomes can be translated into better and safer technologies for everyday living.

“The problems that are being addressed have dual-use applications and can be leveraged by both industry and defence ecosystems to benefit Singapore. We are excited to work with our valued collaborators, FSTD and DSO, as they have deep expertise in both grand challenges to advise, guide and empower our research teams to develop novel AI solutions that can effectively address important problems faced by Singapore and the world. We believe that there is potential for these technologies to be scaled globally in the future”.

Robust AI and AI for Materials Discovery Grand Challenges

AISG’s Grand Challenge programme takes an outcome-driven approach to solve important problems faced by Singapore and the world through multidisciplinary collaboration and translation of AI-based solutions from research to deployment.

Researchers from local Institutes of Higher Learning (IHLs) and Research Institutes (RIs), along with their collaborators from the public and/or private sectors, were invited to propose ground-breaking research ideas that adopt AI techniques to address both Grand Challenges’ statements.

Each challenge statement was jointly defined by AISG, DSO and FSTD.

Robust AI Grand Challenge “How can we design robust CV systems for AVs that can recover at least 80% of their original accuracy after physical testing-time adversarial attacks?”

Computer vision (CV) systems based on AI/ML are vulnerable to adversarial attacks which could compromise their safety and security, thus limiting their performance and adoption in critical environments. In the field of autonomous vehicles (AV), these could result in delays, accidents and potentially, even death.

This Grand Challenge aims to encourage the development of innovative approaches that increase the robustness of these CV systems, to accelerate the adoption of CV systems in critical environments.

AI for Materials Discovery Grand Challenge “How can AI accelerate inverse material design to discover advanced materials that are 50% lighter while retaining and/or enhancing their functional properties?”

Technological breakthroughs and the development of next-generation systems such as lightweight transportation vehicles and energy-efficient buildings are often underpinned by the discovery and development of new and advanced materials. However, this discovery process can be prohibitively long and expensive. In addition, conventional methods can be limited by a scientist’s personal experience, knowledge and even biases, resulting in only incremental discoveries.

This Grand Challenge aims to advance the state-of-the-art applications of AI in materials discovery, to develop solutions that can help scientists accelerate material discovery process and overcome the constraints of conventional methods. This would in turn enable them to keep pace with the increasing demand for new and advanced materials for next-gen systems.

AISG received 16 (7 Robust AI; 9 AI for Materials Discovery) quality research proposals from multidisciplinary teams in response to both grant calls. The teams comprise lead Principal Investigators (PIs) and Co-PIs from the National University of Singapore (NUS), Nanyang Technological University (NTU), Agency for Science, Technology and Research (A*STAR), Singapore Management University (SMU), Singapore University of Technology and Design (SUTD) and Singapore Institute of Technology (SIT). They also involve industry partners and/or collaborators from overseas universities.

An Evaluation Committee comprising members from various stakeholders in the AI ecosystem selected five projects to be awarded Stage 1 funding:

Robust AI Grand Challenge

  • Holistic Moving Target Defence for Autonomous Driving Perception (by Associate Professor Rui Tan, NTU)
    – This project will develop a Moving Target Defence (MTD) approach that creates and deploys AI mechanisms that are diverse and rapidly changing to limit the exposure of vulnerabilities and opportunities for attacks, increase the complexity and cost for attackers.
  • Development of Stable Robust and Secure Intelligent Systems for Autonomous Vehicles (by Professor Shuzhi Sam Ge, NUS)
    – ​This project will harness the collective strengths of machine learning, stable control and generative AI to develop a robust and intelligent system that can adjust its neural network’s behaviour and characteristics in real- time to counter adversarial attacks in complex environments.
  • Towards Building Unified Autonomous Vehicle Scene Representation for Physical AV Adversarial Attacks and Visual Robustness Enhancement (by Professor Yang Liu, NTU)
    – This project will develop novel multi-view and multi-modal defences based on a unified framework that comprises a novel AV scene representation that will be used to generate realistic scenes with diverse conditions and attack vectors.

The projects are expected to deliver suites of multi-modal attack and defence techniques that can be deployed in the real world to increase the robustness of AI models applied in multi-sensor CV systems.

AI for Materials Discovery Grand Challenge

  • MATAI: An AI-Powered Generalist Material Discovery Platform (by Professor Bo An, NTU)
    – This project will develop an AI-powered generalist platform with three key components: a holistic material database, a foundational material property predictor and a generalist multi-property material designer in a large search space.
  • Design Beyond What You Know: Material Informed Differential Generative AI (MIDGAI) for Light-Weight High-Entropy Alloys and Multi-functional Composites (by Professor Ivor Tsang, A*STAR)
    – This project will develop a generative AI framework for materials design that combines with discriminative models to enhance robustness and overcome data scarcity. By incorporating domain knowledge, the AI model will enable a more controllable, directed, and efficient exploration of material design spaces through advanced optimisation algorithms.

The projects are expected to deliver AI solutions that can be used by AI and materials researchers to (i) discover novel materials based on performance needs, (ii) efficiently explore beyond the boundaries of conventional methods, (iii) exploit new and existing scientific knowledge and (iv) reduce resource and time cost of material discovery cycles.

In Stage 1, the teams will be awarded up to S$4M each to work on their project for the next three years. Funding support for Stage 2 will be determined as part of the final evaluation near the end of Stage 1. Selected teams could be funded up to S$5M over 2 years where the teams will have the opportunity to work with agencies to adapt and scale up the developed AI techniques for dual-use applications.

Hashtag: #AISingapore

The issuer is solely responsible for the content of this announcement.

About AI Singapore

AI Singapore (AISG) is a national programme launched by the National Research Foundation (NRF) to catalyse, synergise and boost Singapore’s artificial intelligence (AI) capabilities to power our future, digital economy.

AISG will also bring together all Singapore-based research institutions and the vibrant ecosystem of AI start-ups and companies developing AI products, to perform use-inspired research, grow the knowledge, create the tools, and develop the talent to power Singapore’s AI efforts.

AISG is driven by a government-wide partnership comprising NRF, Smart Nation and Digital Government Office (SNDGO), Infocomm Media Development Authority (IMDA), Economic Development Board (EDB), Enterprise Singapore (ESG), amongst others.

Nut Techy Launches “Computing Power Investment” to Boost Business Market Value and User Base

SINGAPORE – Media OutReach – 26 July 2023 – Recently, well-known computing power operator Nut Techy launched a new business called “Computing Power Investment,” which is expected to bring a new direction to Web3. Nut Techy, a well-known computing power operator headquartered in Singapore, has achieved significant milestones in the past year, including reaching a market value of billions and acquiring over ten million users.

“Computing Power Investment” is one of Nut Techy’s new businesses, and according to Jack, one of the company’s founders, users can participate in various investment opportunities through investment in computing power to gain profits. This measure is expected to expand the company’s profit model and provide new investment options for customers, ultimately contributing to the company’s growth.

Nut Techy’s impressive achievements over the past year are a result of the company’s continuous efforts in technology innovation and user experience. The “Computing Power Investment” business has become a significant source of revenue for Nut Techy’s customers, and the company is confident that it can maintain its position as a leading player in the market through its commitment to providing high-quality services and creating value for investors.

Nut Techy Expands into “Computing Power Investment” Market to Strengthen Position in Web3 Industry.

Nut Techy is expanding its market share this year and aiming to become one of the world’s leading companies in the global Web3 market. Nut Techy believes that Web3 technology can provide more innovative investment experiences for customers and is committed to investing in technology R&D and market promotion to achieve this goal.

Nut Techy’s development showcases the potential and innovation of Web3, and as a multi-domain digital entertainment ecosystem, the company continues to push Web3 forward by providing interesting, safe, and innovative digital entertainment experiences to users.

Hashtag: #NutTechy

The issuer is solely responsible for the content of this announcement.

About Nut Techy

Headquartered in Singapore, Nut Techy was founded by Jack and Dr. Lai with the aim of establishing a Web3 digital entertainment ecosystem that spans the autonomous organization DAO across GameFi, DeFi, SociaFi, NFT, and Metaverse. Nut Techy is dedicated to innovating technology and improving user experience by providing interesting, secure, and innovative digital entertainment experiences. For more information, please visit .

Video:

School Gym Roof in China Collapse Tragically Claims Eleven Lives

School Gym Roof in China Collapse Tragically Claims Eleven Lives
Rescue workers respond after the collapse of a roof on a middle school gymnasium in China's northeastern city of Qiqihar. (photo: CNN)

A devastating incident occurred at a middle school in northeast China’s Heilongjiang Province that saw the roof of a school gymnasium collapse, resulting in the loss of eleven lives on Sunday.