EQ Resources' significant supply agreement

EQ Resources (ASX:EQR) has signed a major supply agreement with Elmet Technologies LLC. The 5-year deal, worth A$30 million, involves tungsten concentrate. EQR aims to integrate their tungsten into the US supply chain and explore US Government funding opportunities.

Summary of EQR's strategic moves

EQ Resources Limited has entered a significant 5-year supply agreement with Elmet Technologies, valued at A$30 million, marking a strategic step to become a reliable western supplier of tungsten concentrate. The company is exploring US Government funding opportunities to enhance critical material supply, aiming to integrate their tungsten concentrate into the US supply chain. The partnership aligns with EQR's focus on sustainable mining practices, leveraging advanced technologies in their operations in Australia and Spain. EQR's Barruecopardo Operations in Spain achieved a production record in October 2024, with notable increases in output and recovery rates. The company remains committed to improving production efficiency, securing critical mineral supplies, and creating shareholder value through strategic partnerships and operational enhancements.

Executive commentary on strategic partnership

EQR's CEO, Kevin MacNeill, emphasized the strategic importance of the agreement with Elmet Technologies and the continuous improvement in production and recovery rates.