EQ Resources’ (ASX: EQR) Mt Carbine tungsten mine in North Queensland delivered a record A$12 million in revenue during July, the company reported.

The company said the record result reflected both higher production and record realised tungsten prices.

Mt Carbine lifted production 16 per cent from June to 4,588 metric tonne units of tungsten and sold 3,682 units.

Main image: Mt Carbine operation west of Mareeba

The mine achieved an average realised price of US$2,195 per unit, below the US$2,449 recorded at the company’s Spanish mine.

A metric tonne unit equals 10 kilograms of tungsten trioxide, the commodity’s trading measure.

Mt Carbine is EQ Resources’ only Australian operation.

The North Queensland result formed part of a record month for EQ Resources across its two operations.

Group production rose 36 per cent from June to 14,255 units, its highest since November 2024, on sales of 14,756 units.

The company said it had generated record group revenue of A$51 million, on a record average realised price of US$2,386 per unit.

EQ Resources reported the figures in its regular monthly production and sales update to the market.

Barruecopardo, the company’s larger mine in Spain, contributed A$39 million of the group’s revenue.

It lifted production 48 per cent from June to 9,667 units, its highest since December 2025.

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Barruecopardo sold 11,074 units at an average of US$2,449 per unit, also a record revenue month.

Both mines increased output from June, when volumes had been lower.

Mt Carbine sits north-west of Cairns near Mareeba, while Barruecopardo lies in Spain’s Salamanca province.

EQ Resources said it was focused on expanding its Mt Carbine operation in North Queensland.

The company was also advancing a second Queensland tungsten project at the historic Wolfram Camp, near Dimbulah in the state’s Far North.

EQ Resources held an exploration permit over the old mine and had been drilling, sampling and running metallurgical tests as it worked toward a mining lease and a return to production.

The company said Wolfram Camp would form part of a regional tungsten hub feeding its Mt Carbine plant.

EQ Resources described itself as a leading global producer of tungsten, a designated critical mineral.

The Brisbane-headquartered company released the update on the authority of managing director Craig Bradshaw.