Andrew Forrest stake buyout lifts EQ Resources shares 22.7% after taking 16.8% holding
AI Market Summary
Andrew Forrest's purchase of a 16.8% stake in EQ Resources highlights rising strategic interest in Western critical-minerals supply chains, particularly tungsten, where China controls most global supply. While the transaction is at shareholder level and does not change operations, it strengthens perceived credibility and funding optionality for non-China supply. Broader market impact is limited, but it reinforces the critical-minerals theme within risk assets.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+1.95%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Australian mining billionaire Andrew Forrest has acquired a 16.8% stake in EQ Resources (ASX: EQR), replacing Oaktree Capital Management as a major shareholder. The company operates the Barruecopardo tungsten mine in Spain and the Mt Carbine tungsten mine in Australia, and produced 1,189 tonnes of tungsten trioxide in FY26. China controls 85% of global tungsten supply, underscoring the strategic value of the mineral. EQR shares jumped 22.7% in a single session and are up 610.5% over the past 12 months.
