EQ Resources Posts Record A$55M Revenue with 34% Production Surge in August
EQ Resources Ltd hit a new revenue peak of A$55.1 million in August 2026, boosted by a 34% jump in tungsten production to 19,068 mtu across its Australian and Spanish mines.
- 34% increase in consolidated tungsten production
- Record A$55.1 million revenue for August 2026
- Barruecopardo mine hits highest monthly production
- Mt Carbine delivers 38% production growth
- Average realised tungsten price around US$2,269 per mtu
Record Revenue Driven by Production Ramp-Up
EQ Resources Ltd (ASX:EQR) has reported a standout month for August 2026, with consolidated tungsten production surging 34% to 19,068 metric tonnes unit (mtu). This marks the second highest monthly output on record, trailing only September 2024's 20,838 mtu. The production boost translated into a record revenue haul of A$55.1 million, underscoring the company's operational momentum as it continues to ramp up output across its global footprint.
Barruecopardo Mine Sets New Production Benchmark
The Spanish operation at Barruecopardo led the charge with a 32% increase in monthly production to 12,719 mtu; its highest ever. Sales volumes of 10,566 mtu generated A$35.2 million in revenue, supported by an average realised tungsten price of US$2,368 per mtu. This performance highlights Barruecopardo's growing contribution to the group’s revenue mix and its role in meeting rising tungsten demand.
Mt Carbine Mine Accelerates Output and Revenue
Meanwhile, the Mt Carbine mine in North Queensland ramped production by 38% to 6,349 mtu. Sales slightly exceeded production at 6,680 mtu, delivering a record A$19.9 million in revenue for the month. The average realised price here was US$2,113 per mtu, reflecting strong market pricing despite some variability between the two sites.
Sustained Price Strength Supports Earnings
Across the group, the average realised tungsten price settled at approximately US$2,269 per mtu, subject to final assays and reconciliation. This pricing environment, combined with the production ramp, has underpinned the company’s record revenue performance. It also signals ongoing demand resilience for tungsten, a critical mineral with diverse industrial applications.
Operational Momentum Amid Expansion Plans
EQ Resources continues to leverage advanced processing technologies and unexploited resources in Australia and Spain. The company’s focus remains on sustainable mining practices and expanding its world-class tungsten assets. While no new guidance was provided in this update, the production and sales trajectory aligns with prior announcements of capacity expansions, particularly at Mt Carbine, aimed at further boosting output in the coming quarters.
Bottom Line?
EQ Resources’ August surge cements its rising role in tungsten supply, but sustaining this growth amid price fluctuations will be key to watch.
Questions in the middle?
- Will EQ Resources maintain or accelerate production growth in coming months?
- How will tungsten price volatility impact revenue sustainability?
- What progress is being made on the planned Mt Carbine expansion?
