Sydney: Shares of EQR Resources surged after Australian mining billionaire Andrew Forrest backed the company with a $133 million investment, signalling growing confidence in the strategic importance of tungsten as global demand for critical minerals continues to rise.
The investment is expected to accelerate the development of EQR’s tungsten assets, strengthen its balance sheet, and support exploration and project expansion. Investors responded positively to the announcement, sending the company’s shares sharply higher as markets viewed the funding as a strong endorsement of its long-term growth prospects.
Tungsten is a critical mineral widely used in defence equipment, aerospace, electronics, industrial machinery, and cutting tools due to its exceptional hardness and high melting point. Demand for secure and diversified tungsten supplies has increased as governments and manufacturers seek alternatives to concentrated global supply chains.
Industry analysts believe Forrest’s investment reflects a broader trend of increased capital flowing into critical minerals essential for advanced manufacturing, energy transition technologies, and national security. The move also highlights growing investor interest in mining projects capable of supplying strategic metals outside traditional production hubs.
The funding is expected to help EQR advance project development, improve production capabilities, and strengthen its position in the global tungsten market. Market participants will closely watch the company’s progress as it works toward expanding resource development and meeting rising international demand.
The announcement underscores the increasing importance of critical minerals in the global economy, with tungsten joining lithium, rare earths, and copper as key commodities attracting significant investment.