EQ Resources signed MOU with Masan

EQR has just released a new item (not ASX announcement. ASX said didn't need to).

EQR has signed a MOU with Masan (Vietnam) - (tungsten miner and processor. Also investor in Nyobolt - fast charging tungsten battery).

70% of EQR production will go via Masan processing (Cronimet and Masan have also signed).

MOU will establish a working relationship on range of areas including assessing new projects and products.

The German and Australian govt also involved in signed agreement on critical minerals.

EQR SIGNS PARTNERSHIP MOU WITH MASAN HIGH-TECH MATERIALS WHILE
AUSTRALIA AND GERMANY ENTER CRITICAL MINERALS COOPERATION
EQ Resources Limited is the 100% owner of the Mt Carbine Tungsten Mine near Cairns,
Australia’s only primary tungsten producer.
EQ Resources Limited (“EQR” or “the Company”) is pleased to announce the signing of a Memorandum of
Understanding (“MOU”) with its existing joint venture partner, Cronimet Australia Pty Ltd (“Cronimet”), and
Masan High-Tech Materials Corporation (“Masan”) related to the Mt Carbine Tungsten Project in Far North
Queensland, Australia. The MOU will establish a working relationship based on reciprocity and mutual benefit,
exchanging knowledge and experiences around tungsten exploration, mining, and processing, potentially
assessing new project opportunities, and new product applications.
The MOU is augmented by an existing long-term offtake agreement Cronimet Group has signed with Masan,
which will see approximately 70% of Mt Carbine's production for the next four years allocated to Masan. The
proposed strategic partnership between EQR, Cronimet and Masan aims to continue Mt Carbine’s growth into
a world-class sustainable tungsten operation.
The signing of the MOU was witnessed by German Parliamentary State Secretary of the Federal Ministry for
Economic Affairs and Climate Action, Dr. Franziska Brantner, and German Ambassador to Australia, Dr.
Markus Ederer. Dr. Franziska Brantner visited Australia between April 3rd - 7
th, together with a high-profile
German industry delegation, to meet with Australian Government representatives, various industry groups and
to establish business-to-business
relations in the fields of critical minerals
and hydrogen.
Dr. Brantner's and the German
Ministry’s public endorsement of the
partnership MOU is a significant
milestone for the Mt Carbine Project,
as it will further strengthen the
partnership between the companies
and demonstrate the global demand for
the critical mineral produced by the Mt
Carbine Tungsten Project.
EQR’s Chief Executive Officer, Mr
Kevin MacNeill, commented: “German
high-tech industries are urgently calling Dr. Franziska Brantner and Dr. Markus Ederer in back row,
company representatives of EQ Resources, Cronimet and Masan in front row
resourcing the new economy for a better tomorrow
Page 2
for sustainably produced tungsten and EQR is perfectly positioned to meet these long-term demands as an
environmentally responsible, sustainable, and stable Western tungsten producer. While Masan Group is
Vietnam headquartered, their 100% subsidiary H.C.Starck is a leading tungsten processor with its
headquarters in Germany. With EQR’s joint venture partner, Cronimet being headquartered in Germany, the
partnerships between the countries and companies strategically align.”
“The signing of the MOU based on the existing offtake agreement represents a significant milestone in the
development of the Mt Carbine Tungsten Project and demonstrates the strength of the partnerships being
forged to establish a leading Western tungsten operation”, Mr MacNeill said.
The signing of the MOU comes as both
Governments strengthen their cooperation on
critical minerals. During the visit of Dr. Franziska
Brantner to Perth, a joint Government-toGovernment declaration was signed with Hon
Madeleine King, Minister for Resources and
Minister for Northern Australia. The declaration
will support a joint study to help Australia meet its
ambitions to develop value-added industries
around critical minerals, from extraction,
refinement and recycling, and to help Germany
secure reliable supplies of critical minerals to
underpin its manufacturing activities.
For further details see following link:
Australia and Germany to collaborate on critical
minerals study | Ministers for the Department of
Industry, Science and Resources
About Masan High-Tech Materials Corporation:
Masan High-Tech Materials is the global leader in providing advanced tungsten materials used in key
industries such as electronics, chemical, automotive, aviation and aerospace, energy and pharmaceuticals
with production facilities in Vietnam, Germany, Canada and China, servicing the world. As the largest
manufacturer of mid-stream tungsten products outside of China, the company has two research and
development centers in Germany and Vietnam, and it is currently operating the Nui Phao polymetallic mine
and a state-of-the art processing plant in Thai Nguyen province. Masan High-Tech Materials is also a globally
significant producer of fluorspar and bismuth.
For more information visit masanhightechmaterials.com.
Released on authority of the Board by: Further Enquiries:
Kevin MacNeill Peter Taylor
Chief Executive Officer Investor Relations
0412 036 231
[email protected]


Full announcement and photos on EQR website.

While it's not a ASX announcement. I think a lot can be read between the lines.