EQ Resources Surges Tungsten Output 33% as Prices Hit New Highs
EQ Resources has reported a significant 33% increase in tungsten production for the December quarter, coinciding with record-breaking tungsten prices that continue to climb into 2026.
- 33% quarter-on-quarter increase in tungsten production
- 38,292 metric tonnes units produced in Q4 2025
- Tungsten prices rose 42% quarter-on-quarter to US$825 per mtu
- Prices further increased to US$900 per mtu in early January 2026
- Operations span Australia’s Carbine and Spain’s Barruecopardo projects
Production Growth Amid Rising Prices
EQ Resources Ltd has delivered a robust performance in the final quarter of 2025, boosting its tungsten production by 33% compared to the previous quarter. The company produced 38,292 metric tonnes units (mtu) of tungsten, a notable increase that comes at a time when global tungsten prices are surging to unprecedented levels.
The rise in production aligns with a favourable market backdrop. According to Fastmarkets, the price of ammonium paratungstate (APT), a key tungsten concentrate, jumped 42% quarter-on-quarter to US$825 per mtu by the end of December 2025. This price has since climbed further to US$900 per mtu as of early January 2026, underscoring strong demand and tightening supply dynamics in the tungsten market.
Strategic Operations Across Two Continents
EQ Resources operates its tungsten mining activities primarily through two flagship projects – the Carbine project in North Queensland, Australia, and the Barruecopardo project in Salamanca, Spain. Both sites contribute to the company’s ambition to be a leading global supplier of tungsten, a critical mineral essential for various industrial applications including manufacturing and defence.
The company emphasises sustainable mining practices and advanced processing technologies as it expands its portfolio. This approach not only supports environmental stewardship but also positions EQ Resources to capitalise on the growing global demand for critical minerals that underpin the new economy.
Market Implications and Forward Outlook
The combination of increased production and soaring tungsten prices could significantly enhance EQ Resources’ revenue potential and shareholder value. However, the company also acknowledges inherent risks typical of mining operations, including regulatory challenges and the uncertainties of resource estimation.
Investors will be watching closely to see if this production momentum can be sustained in subsequent quarters and how the company navigates the evolving market conditions. The tungsten price rally, driven by supply constraints and strategic demand, may continue to support EQ Resources’ growth trajectory in the near term.
Bottom Line?
EQ Resources’ production surge amid record tungsten prices sets the stage for a potentially lucrative 2026, but sustaining this momentum will be key.
Questions in the middle?
- Can EQ Resources maintain or further increase production in upcoming quarters?
- How will rising tungsten prices impact the company’s profitability and cost structure?
- What exploration or development plans does EQ Resources have to expand its resource base?
