EQ RESOURCES LIMITED
A Globally Significant Critical Mineral Producer
Austex / AMEC Brisbane Resources Lunch
Andrew Mooney, Chief Financial Officer 27 November 2024
ASX : EQR
Strategic Partners
Endorsement Through Funding & Grants
Strong Support for Critical Minerals Projects in Australia
Department of Resources
Department of State
Development and
Infrastructure
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EQR - World's Largest Western Tungsten Producer
Vertically Integrated Tungsten Production
- EQ Resources (EQR) positions itself as a globally significant, conflict-free critical mineral producer, leading the western tungsten market with vertically integrated operations spanning three continents and a strategic partnership extending its influence to a fourth.
- By offering a traceable and responsible alternative to China's tungsten supply chain, EQR meets the rising global demand for strategic materials essential to defence, aerospace, and renewable industries.
Tungsten Cluster - Australia
QUEENSLAND
Government Grant for Ore Sorter Trials at Wolfram Camp . 15 Oct 2024 (link)
Tungsten Cluster - Spain
TMG Ferrotungsten Plant - Vietnam
EQ Resources to Acquire 100% Interest in Producer of High-Quality Ferrotungsten. 18 Nov 2024 (link)
Elmet Technologies - USA
Strategic Collaboration Agreed with Elmet Technologies. 2
Sep 2024 (link)
Tungsten Concentrate to Commence for Elmet Technologies. 12 Nov 2024 (link) | 5 |
Tungsten Uses
Critical Alloy Element, Without Substitute in Most Applications
Aviation | Aerospace Automotive | Heavy | Heavy | Tools & |
Machinery | Industry | Construction |
Medical | Military | EV Battery | Green | Science | Micro |
Development | Energy | & Tech | Electronics |
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Tungsten - A Critical Metal
EQR Is Unhedged, Provides Spot Price Exposure To a Tight Market
EU: The Most Economically Important Critical Material
Borate | Niobium | Raw Materials | |||||
Critical | |||||||
Graphite | |||||||
Scandium | Non-critical | ||||||
Indium | Beryllium | PGMs | |||||
Bauxite | Tungsten | ||||||
Germanium | |||||||
RISK | Baryte | Vanadium | Cobalt | ||||
SUPPLY | Gallium | Hafnium | |||||
Rhenium | Lithium | Silicon Tantalum | Phosphate Rock | Manganese | |||
Coking Coal | |||||||
Tellurium | Tin | Molydbenum | Chronium | ||||
Feldspar | Magnesite | Potash | Iron Ore | ||||
Gypsum | Kaolin Clay | Silver | Sulphur | ||||
Talc | Zinc | Nickel | Aluminium | ||||
Gold | Silica Sand | Titanium | Copper | ||||
Aggregates Limestone | |||||||
Lead | |||||||
ECONOMIC IMPORTANCE | |||||||
Tungsten Production by Country | Tungsten Reserves by Country | ||||||
Austria 1.1% Spain 1.1% | Portugal 0.8% | Spain 1.4% | North Korea 0.8% | ||||
Austria 0.3% | |||||||
Rwanda 1.2% | North Korea 0.5% | ||||||
Vietnam 2.7% | Portugal 0.1% | ||||||
Other 1.5% | Russia 10.8% | ||||||
Bolivia 1.8% | |||||||
Russia 3% | |||||||
Vietnam | China 51.4% | ||||||
5.7% | Others 32.5% | ||||||
China 83% | Total World - | ||||||
Total World - | |||||||
3,700 kt | |||||||
79kt WO3 | |||||||
EQR Consolidated Group
tWO3 Production Projections*
5,000 Target 3,000 -
5,000t WO3 p.a.
4,000 (up to 50% of Western Mine Supply)
3,000
2,000
1,000
-
FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | FY2027 | |||||
Mt Carbine | Saloro | Wolfram Camp | ||||||||
*FY 2022, FY 2023, FY 2024 Actuals + Onwards Projections. 100% Equivalent WO3 t, Wet Weight
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Mt Carbine (Australia)
Mt Carbine Mine Is Australia's Leading Tungsten Mine and Is Consistently Exporting Concentrate to Global Consumers
Mt Carbine Open Pit & Processing Plants
- Re-opened2020; Life of Mine: 2030 Open Cut - 2032 on stockpiles
- Potential 7 years Underground Mining, Scoping Study
- 19 years Mining Permit
- Focus on quarterly production ramp up
• >150 staff and contractors
- A$50 million expenditure in the development
- Proximity to international export channels underpins low-cost production
- 130km via sealed highway to Cairns International Airport
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Saloro (Spain)
Europe's Largest Tungsten Mine, With Outstanding ESG Credentials, Additional Ramp-Potential and Regional Exploration Upside
Open Pit
Barruecopardo
• Discovered 1900 - Closed 1982 - Re-opened 2019
• Acquired by EQ Resources in January 2024
• Minimum 7 years mine plan
• Mining lease until 2044
• Production 1,300 tonnes WO3 /year and climbing
- 90 staff and 40 contractors
- A$200 million capex investment in the operation prior to EQR Acquisition
- On the border with Portugal, proximity to international export channels
EQR Group WO3 Production - Update Q3 CY2024
EQR Group - Recent Monthly Production
EQR Monthly WO3 Production (1 mtu = 10kg WO3) | |
25,000 | |
20,000 | |
15,000 | |
mtu | |
10,000 | |
5,000 | |
- | |
Saloro | Mt Carbine |
Production Output EQR Group (monthly average, in mtu)
*1mtu = 10kg WO3
See ASX Announcement: "Quarterly Tungsten Production at EQ Resources up 31%" Dated 02 October 2024
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