ZeroHedge72%
Tungsten Miner Soars After Billionaire Forrest Takes 17% Stake 75%
By Tyler Durden63%
7/20/2026, 6:05:00 AM
Keywords: Tungsten, Andrew Forrest, Eq Resources, Mining, Commodities, China, Export Controls, Stockpiling, War Demand
BS Summary: This article contains 11 faulty reasoning types, including Appeal to Authority, Anecdotal, and Post Hoc (False Cause), with Overconfidence Bias as the most egregious example at 30.6% saturation with 71 hits. Analysis detected 332 faulty-reasoning hits from 232 analyzed words, generating a BS Score of 67.1% and a BS Rank of 75% (5,482 of 21,887 articles). This article is worse (more manipulative) than 75.00% of the article peer group.
Australian mining billionaire Andrew Forrest, founder and executive chairman of iron ore giant Fortescue, has agreed to acquire Oaktree Capital's entire 16.8% stake in the Sydney-listed tungsten producer EQ Resources.
Shares of EQ Resources in Sydney surged 34% on Monday following news of the transaction, which is valued at about 190 million AUD ($133 million) based on Friday's close.
The deal covers 862.1 million shares and 35.6 million options.
Forrest's most likely reasoning for the deal is that EQ Resources controls one of the largest operating tungsten platforms outside China.
Tungsten is a critical metal used in armor-piercing munitions, aerospace components, cutting tools, electronics, and semiconductor manufacturing.
Bloomberg noted that, outside of China, Australia has the world's largest tungsten reserves, accounting for about 80% of global production.
Prices of tungsten in Europe reached a new all-time high of $3,025 per ton after a year-long rally, following Beijing's decision to place certain tungsten products on its export control list.
Beyond China, stockpiling has accelerated and war demand is driving a squeeze in physical markets.
George Heppel, vice president of commodity research, told Bloomberg earlier this year: "In my 12 years working across the commodity space and dealing with a lot of weird and wonderful metals, I have never seen a market as tight as tungsten is right now, aside from maybe lithium in 2021."
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2speakers30%attributed speech162writer words
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100%flagged-word coverageGeorge Heppel
50 attributed words71% of attributed speech47% writer coverage
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