EQ Resources (ASX:EQR) agreed to acquire a 10% interest in a new tungsten processing joint venture with Nasdaq-listed firms Elmet Group and Blue Moon Metals to restart, own, and operate the Springer project's ammonium paratungstate plant in Nevada, according to a Tuesday filing with the Australian bourse.

The company is expected to supply a total of 4,000 tonnes of contained tungsten trioxide in concentrate to the joint venture, to be delivered under an eight-year spot-priced offtake agreement, the filing said.

Elmet Group would hold 70% of the joint venture and act as operator, while Blue Moon Metals would hold the remaining 20%, per the filing.

EQ Resources shares rose 7% in morning trade Tuesday.