https://www.miningweekly.com
EQ Resources|Oaktree|Wonongarra|Australia|Spain|Barruecopardo|Mt Carbine|Critical Minerals|Tungsten|Andrew Forrest
||||
eq-resources|oaktree|wonongarra|australia|spain|barruecopardo|mt-carbine|critical-minerals|tungsten|andrew-forrest

Australia's EQ Resources surges as billionaire Andrew Forrest takes 16.8% stake

EQ Resources tungsten mine

EQ Resources tungsten mine

20th July 2026

By: Reuters

  

Font size: - +

Shares of EQ Resources jumped more than 34% on Monday after the tungsten producer said Australian mining billionaire Andrew Forrest would acquire a 16.8% stake in the company.

Wonongarra, an investment vehicle wholly-owned by Forrest, will acquire Oaktree's entire holding in EQ Resources, comprising 862.1-million shares and 35.6-million options.

Oaktree has been an investor in EQ Resources since 2023, supporting the company's acquisition of the Barruecopardo tungsten mine in Spain and the expansion of its Mt Carbine operation in Australia.

Based on EQ Resources' last closing price, the stake is valued at about A$189.7-million ($132.5-million).

The transaction comes as Western countries seek to secure supplies of critical minerals such as tungsten, which is used in industrial machinery, semiconductors and defence applications.

The stake represents about 16.8% of EQ Resources' issued capital. The company said the transaction transfers ownership of one of its cornerstone shareholdings but does not affect its strategy, management or day-to-day operations.

The stock rose as much as 34.1% to A$0.295, marking its best intra-day perecentage gain since early February 2025.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 
ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (17/07/2026)
17th July 2026 By: Martin Creamer
DRDGOLD, Sibanye-Stillwater, Mintek make headlines
DRDGOLD, Sibanye-Stillwater, Mintek make headlines
17th July 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.028 0.051s - 133pq - 2rq
Subscribe Now