EQ Resources Secures Long-Term Tungsten Offtake Agreements Amid Rising Global Demand

EQ Resources Ltd (ASX: EQR), a leading global tungsten producer with operations in Australia and Spain, has signed five significant long-term offtake agreements, covering the next two years of production. These contracts, valued at approximately US$124 million, will see the company supply 470 containers (each holding 20 tonnes of 50% WO₃ concentrate) to major international tungsten consumers across Europe, North America, and Asia. The deals, made in collaboration with marketing partner CRONIMET, follow China's recent export restrictions on tungsten products, which have increased global demand and prices. These agreements not only ensure revenue certainty but also enhance EQR’s credibility in securing future capital. Each contract includes advance payment clauses and standard pricing mechanisms tied to Fastmarkets APT prices. EQR is also preparing to support its proposed acquisition of Vietnam-based Tungsten Metals Group, furthering its downstream integration and securing its position in the critical minerals supply chain.

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