Global Tungsten Supply Dynamics

In this episode we chat to Craig Bradshaw, Managing Director of EQ Resources, a company that has become one of the most talked-about names in the tungsten space.

After nearly two decades working overseas, he’s now back in Australia and back in the mining industry at a time when critical minerals and geopolitics are firmly in the spotlight.

EQ Resources operates across Spain and Australia, is already producing, and has seen its market capitalisation grow from under $100 million to over $600 million in a relatively short period. Meanwhile, tungsten prices have surged dramatically, and governments globally are paying closer attention to secure supply chains. We talk about Craig’s return to Australia, EQ’s journey and challenges, their assets, what’s driving the tungsten market, and what the future looks like for EQ Resources.

KEY TAKEAWAYS

• The tungsten market is currently experiencing a surge in prices, driven by a supply-demand imbalance. China dominates the market, supplying 83-85% of the world's tungsten, while geopolitical tensions and increased defence spending are further straining supply.
• EQ Resources operates two key assets: Barruecopardo in Spain and Carbine in Australia. Both assets have significant historical production and potential for resource expansion, with ongoing improvements in recovery rates due to advanced sorting technology.
• EQ Resources utilises proprietary sorting technology that allows for a 90% rejection rate of waste while achieving a 99% recovery of ore. This technology enhances the efficiency and profitability of their operations.
• The company aims to increase production significantly, targeting an annual output of 3,000 to 4,000 tonnes of contained tungsten by mid-2026. 

BEST MOMENTS

"The market is short of tungsten. We're on a trajectory that's going to take us to be the number one producer in the rest of the world by the end of 2026."

"If it wasn't for the sorters, the sorters are the differentiator that makes our operations viable."

We've got a number of customers who are looking for increased production. We've got the ability to double the production at our carbine asset."

GUEST RESOURCES

Company: EQ Resources Limited (ASX: EQR)Website: https://www.eqresources.com.au/ASX announcements: https://www.eqresources.com.au/site/investors/asx-announcementsEmail alerts sign-up: https://www.eqresources.com.au/site/contact/email-alertsLinkedIn: https://www.linkedin.com/company/eq-resources-ltd/X: https://x.com/EQResourcesASX

VALUABLE RESOURCES

Mail:        ⁠rob@mining-international.org⁠

LinkedIn: ⁠https://www.linkedin.com/in/rob-tyson-3a26a68/⁠

X:              ⁠https://twitter.com/MiningRobTyson⁠  YouTube: ⁠https://www.youtube.com/c/DigDeepTheMiningPodcast⁠ 

Web:        ⁠http://www.mining-international.org⁠

CONTACT METHOD

⁠rob@mining-international.org⁠

⁠https://www.linkedin.com/in/rob-tyson-3a26a68/⁠

Podcast Description

Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics. 

This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/