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The Elmet Group boosts stake in EQ Resources to secure tungsten supply amid rising demand.

Company Fundamentals
25 Jun 2026
GlobeNewsWire
View Source
Bullish
pluang ai news

The Elmet Group has increased its ownership in EQ Resources Limited by purchasing an additional 20 million shares, bringing its total to over 23.6 million shares. This move strengthens its strategic collaboration and long-term offtake agreement for tungsten concentrate from EQ Resources' Saloro mine in Spain, valued at around A$30 million over five years. The investment aims to support sustainable and resilient supply chains for critical materials, especially for defense applications, enhancing Elmet's competitive position in the tungsten market. The company plans to continue exploring further investments to bolster its supply chain and manufacturing capabilities.

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