EQ Resources (ASX:EQR) has hit a new monthly production record of tungsten concentrate from its Mt Carbine and Saloro operations in Queensland and Spain.
At the Mt Carbine Operations, the company achieved a monthly record production of 9,040 metric tonne units of tungsten oxide in concentrate during August.
EQ Resources, which has a market capitalisation of $93.95 million, also achieved a new 24 hour period record of 571 metric tonne units of tungsten oxide in concentrate.
Meanwhile, the Saloro Operation also recorded a monthly production record of 9,018 metric tonne units of tungsten oxide in concentrate during August.
The expanded production during August represents an overall 31% increase of tungsten output on EQ Resources’ group level, compared to the average monthly output recorded in the fourth quarter of financial year 2024.
CEO Kevin MacNeill says the record tungsten concentrate in August follows the company’s strategy to establish itself as a “leading” supplier.
“Our production expansion enables us to form strategic relationships with downstream customers, as recently shown with our collaboration with leading US tungsten manufacturer,” MacNeill says.
“We are confident there is further capacity for improvement in production by expanding mining operations at Mt Carbine and further enhancement of recovery rates through the plant at Barruecopardo.
“We look forward to reporting full data on grade, production, and recoveries in our September quarterly report.”
Mt Carbine’s production record was supported by the upgrade to the TOMRA XRT ore sorter #2 topped with increased recovery at the Gravity Plant, due to the installation of a scavenger jig.
The Saloro Operations team specifically targeted recovery-enhancing upgrades and process changes at the Barruecopardo Mine site that have started to deliver first results illustrated by higher production of final concentrate.
EQ Resources is a tungsten mining company focused on sustainable mining and processing practices. The company is focused on expanding its world-class tungsten assets at Mt Carbine in North Queensland and at Barruecopardo in the Salamanca Province.
Write to Aaliyah Rogan at Mining.com.au
Images: EQ Resources
