- EQ Resources (EQR) announces the Federal Government’s Advanced Manufacturing Growth Centre (AMGC) will co-invest $600,000 for the company’s Mt Carbine Tungsten mine
- The combined investment from the company, its partners, and AMGC total $1.97 million which will be used in commercialising industrial-scale operations for advanced minerals processing flowsheet developed for the Mt Carbine Expansion project
- Technologies incorporated include the advanced XRT ore sorting technology and hyperspectral imaging sensors
- The formal co-funding agreement between AMGC and the company has been finalised and signed.
- Shares ended the day of trading down 6.15 per cent to 6.1 cents
The Federal Government’s Advanced Manufacturing Growth Centre (AMGC) will co-invest $600,000 for EQ Resources’ (EQR) Mt Carbine Tungsten mine via the $30 million commercialisation fund.
The combined investment from the company, its partners, and AMGC total $1.97 million which will be used in commercialising industrial-scale operations for advanced minerals processing flowsheet developed for the Mt Carbine Expansion project.
Technologies incorporated include the advanced XRT ore sorting technology and hyperspectral imaging sensors.
The implementation will be supported by CRONIMET Australia and the Sustainable Minerals Institute at the University of Queensland.
The formal co-funding agreement between AMGC and the company has been finalised and signed.
AGMC Managing Director Dr Jens Goennemann said it is a move forward for the manufacturing industry.
“EQ Resources’ project brings together industry and research leaders to commercialise a world-leading technology which will convert what was once a mining waste product into new revenue streams,” he said.
“The project proves that Australia’s manufacturing industry is stepping forward to develop globally relevant solutions which will improve operations and add value in the process.”
Chief Executive Officer Kevin MacNeill said he is pleased to have the support of the AMGC.
“We are delighted to have the support of AMGC for this blending of advanced technologies to drive the sustainable future for Mt Carbine,” he said.
“EQR is committed to seeking leading edge solutions to enhance smart processing and reduce energy and water use in our mine of the future.
“The journey does not end here as we will continue to seek technology solutions to enhance our sustainable mining and treatment practices to ensure Mt Carbine optimises its pathway towards building a circular mining venture.”
Shares ended the day of trading down 6.15 per cent to 6.1 cents.