What triggered the 34% surge in EQ Resources' share price on Monday?

The surge was triggered by the announcement that Australian mining billionaire Andrew Forrest, through his investment vehicle Wonongarra, would acquire a 16.8% stake in EQ Resources by purchasing Oaktree's entire holding of 862.1 million shares and 35.6 million options.

Why is EQ Resources strategically significant to Western countries at this time?

EQ Resources is strategically significant because it produces tungsten—a critical mineral used in industrial machinery, semiconductors, and defence applications—at a time when Western countries are actively seeking to secure reliable supplies of such minerals.

Australia's EQ Resources Surges as Billionaire Andrew Forrest Takes 16.8% Stake

Jul 19, 2026

EQ Resources shares surged over 34% after billionaire Andrew Forrest acquired a 16.8% stake via his investment vehicle Wonongarra. The deal bolsters the tungsten producer's position amid Western efforts to secure critical mineral supplies.

reuters

2026-07-19

Australia's EQ Resources Surges as Billionaire Andrew Forrest Takes 16.8% Stake

Australia's EQ Resources Surges as Billionaire Andrew Forrest Takes 16.8% Stake

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