European lead and metals recycler Campine is to acquire a minority stake in the manufacturing operations of Thai antimony smelting and trading firm Green Tech Antimony.

Campine said on November 3 the undisclosed investment marks a major step in its speciality chemicals plans and gives it access to an Asian production base for antimony trioxide (ATO) — strengthening the supply chain for its Belgium-based operations and opening new opportunities in global markets.

Green Tech Antimony operates a smelter at Kanchanaburi, commissioned in 2025, with an annual production capacity of 8,000 tonnes of antimony metal. The company’s Thai partners also own several antimony mines in Southeast Asia, providing access to ore concentrates.

By the end of 2027, Kanchanaburi will be expanded with a 4,000-tonne ATO production unit using Campine’s proprietary technology, creating an integrated operation from antimony ore to finished ATO.

The entire ATO output will be marketed through a new trading company, majority-controlled by Campine, primarily targeting Asian markets.

The deal, expected to be finalised in January 2027, follows Campine’s pledge in January 2026 to invest €7 million ($8 million) in an expansion of its proprietary antimony recycling technology, following its acquisition of two battery recycling plants and one semi-finished lead-products facility from Ecobat in France.

The strategic importance of antimony to a wide range of sectors — including batteries and solar panels and for defence and advanced manufacturing applications — has grown amid global supply chain disruptions and China’s export restrictions on antimony-related products.

Campine said it became the global market leader in ATO in early 2025, following exceptional supply disruptions and sharp price increases. Since the end of 2025, improved raw material availability has led to a significant correction in antimony prices.

Campine CEO Wim De Vos said: “By combining direct access to antimony metal with our technological expertise and a competitive Asian production, we are creating a solid foundation for further profitable growth.”