How EQ Resources is futureproofing its critical mineral extraction operations
Since commencing the re-commercialization of the historical Mount Carbine mine in 2019, EQ Resources (EQR) has grown to solidify its position as the leading supplier of responsibly mined, non-conflict tungsten outside of China. Primarily focused on tungsten exploration and extraction, EQR highlights how innovation is helping the company achieve its target of growing as the largest integrated tungsten producer in the western world. Amid rising global demand and supply constraints for this critical metal, EQR is well-positioned to meet the needs of western end users seeking a secure and sustainable supply.
CEO, Kevin MacNeill expands on the company’s operations. “We focus on the exploration and production of tungsten concentrates while pursuing downstream processing opportunities through acquisitions and strategic partnerships. Tungsten, an alloy-hardening metal with the highest melting point and tensile strength of all pure metals, is considered a critical mineral due to its essential applications in advanced technologies, heavy industry, and defense.
“Our flagship operational mines are the Barruecopardo Tungsten Mine located in the Salamanca Province of Western Spain and the Mount Carbine Tungsten Mine located in Far North Queensland, Australia.
“In 2019, EQR began reprocessing historic Mount Carbine tailings and low-grade ore stockpiles. By 2023, the Mount Carbine operations were expanded to include mining high-grade ore from the Andy White Open Pit. Shortly thereafter, EQR strategically acquired leading tungsten producer, Saloro, successfully strengthening its relevance in the global tungsten industry.
“Since acquiring the site in Spain, we have greatly improved key performance indicators (KPIs) including, but not limited to, doubling ore sorting capacity, increasing gravity plant feed grade, increasing throughput capacity and improving overall production output.”
By utilizing the most efficient, cutting-edge technologies, EQR is able to optimize outputs by extracting resources that were previously uneconomical or discarded as waste. This not only causes less damage to the area but also reflects the company’s broader commitment to sustainable practices. Kevin outlines the approach: “We are committed to the development of natural resources by producing in a way that decouples economic growth from environmental degradation. We embrace circular economy principles and recycle and repurpose the byproducts from our Mount Carbine operation in our wholly owned and operated quarry. We also recognize the value of biodiversity and the importance of effective conservation and partner with conservation groups in both Australia and Spain.”
The company’s commitment to minimizing its carbon footprint and to delivering a positive societal impact informs decisions like extracting from under-utilized secondary resources that have historically been discarded as waste. This approach, which can be seen across the business, is underpinned by the company’s core values. By prioritizing safety, EQR ensures its staff work in a culture of respect where they not only feel safe working, but also to be themselves. Recognizing its people as a core asset, the business also invests in the training, development and retention of its highly skilled workforce.
Long-term value 
Kevin goes on to highlight some key innovative technologies that help EQR operate sustainably and optimize efficiency across its mines. “We utilize TOMRA’s ore sorting technology at both sites. This sorting process allows for the efficient separation of ore from waste, significantly increasing recovery rates while minimizing wastage. Additionally, we employ Plotlogic’s hyperspectral imaging technology, which provides real-time ore characterization, enhancing our ability to precisely identify valuable minerals and reduce dilution. We also integrate drone technology for enhanced mine planning and management, enabling us to monitor site conditions and streamline operations efficiently. Finally, we ensure full optimization of all our equipment to reduce energy consumption and improve our processing capabilities.”
With tungsten being declared a ‘critical raw material’ by the European Union due to supply risks and its economic importance, these efficiencies are essential for addressing the scarcity challenges. “By enhancing the efficiency and output of existing operations, we maximize tungsten recovery,” Kevin points out. “Our collaboration with governments and other industry partners strengthens our supply chains, whilst ongoing research and implementation of advanced mining technologies will continue to improve extraction processes and minimize waste materials. This approach positions EQR as a vital supplier to end users, especially in light of China tightening their export controls and the United States rising import tariffs on tungsten products.”
EQR operates in Tier 1 jurisdictions with established mining histories, providing stability and strategic advantages. By targeting downstream processing capabilities through acquisitions and strategic partnerships, EQR aims to further strengthen its supply chain and enhance shareholder value. Kevin expands: “While we are focused on exploring and developing our current portfolio, we are also evaluating corporate and exploration opportunities in the critical minerals sector. By maximizing production efficiency and strengthening strategic partnerships, we aim to create long-term value for our shareholders.”
Robust roadmap
With 2024 quickly coming to a close, the long-term strategies are already beginning to pay off. Kevin explains: “We achieved record monthly production at both operations in August 2024, thanks to improved ore grades and equipment upgrades. Moving forward, we aim to sustain this momentum. We also want to continue to reduce operational costs following our transition to owner-operator mining at Mount Carbine. As well as this, we continue to explore new investment opportunities to solidify our market position.”
EQR is building on this success with some exciting projects that Kevin draws attention to. “We have been awarded a 488-square-kilometer exploration permit for the Wolfram Camp tin-tungsten field in North Queensland within a prominent tungsten cluster. The site has the potential to be developed into a critical mineral hub due to its proximity to current Mount Carbine operations and other historical tungsten operations.
“EQR has secured 250,000 dollars’ worth of funding through Queensland’s mining equipment, technology and services collaborative project fund. This funding will support advanced XRT ore sorting trials aimed at assessing the redevelopment potential of the historic Wolfram Camp tungsten mine. This collaborative project involves partnerships with Tomra Ore Sorting and the University of Queensland’s Sustainable Minerals Institute.”
Looking further afield Kevin outlines the company’s bold ambitions for the future. “EQR aspires to solidify its positioning as the leading independent tungsten producer in the western world, with expanded production capabilities and a strong commitment to sustainability and innovation. Our roadmap includes strategic investments, partnerships, the continued implementation of advanced technologies, as well as a strong focus on sustainable practices to achieve this vision.”