Australia well on the way to being a top 5 producer in the world!, page-2

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gopherbroke

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09/05/22

16:24

Post #: 61293890
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Originally posted by thfc61: ↑

It may not be as well known or as "sexy" as Lithium right now, but with the announcement yesterday that EQ Resources is now fully CAPEX funded for it's north QLD Tungsten mine, Australia (via it's ONLY Tungsten producing company EQR.AX) will soon join the ranks of the top Tungsten producers in the world. This first stage final funding announcement follows hard on the heels of the Federal Government Grant of $6M awarded last Friday to EQR, being 1 of only 4 Australian companies currently supported as part of the Government's Critical Minerals Program funding. With these funds secured the EQR QLD operation can now be expanded to increase production to 90-100 M/T of Tungsten concentrate per month.

Recent data provided by Statista lists China as being far and away the major global producer of Tungsten in 2021 at 66000 metric tonnes. Vietnam is in second place at 4500 M/T. Russia is 3rd at 2400 M/T and Bolivia 4th at 1400 M/T. Rwanda is in 5th spot with 950 M/T. With global leaders keen to purchase product from markets outside of China and Russia supply from Australia will be warmly received.
IF (more likely WHEN) EQR does increase initial production to 100 M/T pm it alone will push Australia into the top 5 global producers of Tungsten, a metal on the critical lists of the U.S., Australia and European governments.
I've been a patient holder since 2011. It's been a long wait, but the tide is turning and it's a very exciting time to be a shareholder. DYOR and good luck to all.

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Following this mornings webinar and todays presentation, below is slide 25 showing WO3 concentrate production in the range of 3000 to 8000 tonnes.
Your previously quoted Statista production numbers for 2021 have Vietnam as the largest producer excluding China & Russia.
With these forecast numbers in mind, EQR would slot into either 3rd or 2nd place as potentially the largest tungsten producing mine/country.
Definitely a world stage aspirant

EQR Price at posting: 5.7¢ Sentiment: Buy Disclosure: Held
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