EQ Resources Secures Global Offtake Deals Amid Tightening Tungsten Supply

EQ Resources

Australia's Leading Tungsten Producer Signs 9,400t Supply Contracts Across Asia, North America, and Europe

EQ Resources Expands Global Tungsten Reach

Australian-listed tungsten producer EQ Resources (EQR) has signed five major offtake agreements totaling 9,400 tonnes of 50% grade tungsten concentrate over two years. These deals span key markets, with 50% of the material going to Asia, and the remaining split evenly between North America and Europe.

EQR did not name the buyers but confirmed on 19 March that they are all leading manufacturers in the tungsten industry. These strategic agreements will bolster EQR’s global footprint at a time of mounting supply chain risks.

EQR Adds Value with Ferro-Tungsten Production

This is not EQR’s first offtake success. In September 2024, the company secured a five-year supply contract with Elmet Technologies, a US-based manufacturer. Additionally, EQR acquired Tungsten Metals in November 2024, gaining control of a 4,000 t/yr ferro-tungsten facility. This vertical integration enhances EQR’s ability to deliver processed tungsten alloys directly to customers.

These moves come as China, the world’s largest tungsten supplier, introduced export restrictions in February in response to rising US tariffs. EQR’s ability to secure multi-region supply deals highlights its growing strategic importance outside China’s tungsten ecosystem.