Campine strengthens global antimony position through strategic investment in Thailand

What happened

Campine NV agreed to acquire a minority stake in Green Tech Antimony, a Thai antimony metal producer with a smelter in Kanchanaburi. GTA has 8,000 tonnes of annual antimony metal capacity and plans a 4,000-tonne antimony trioxide unit by the end of 2027.

Confirmed

Global impact / market context

The deal gives Campine direct access to antimony metal, a critical raw material, and secures supply for its Belgian operations. Adding an Asian antimony trioxide plant could lower costs and open overseas sales, while a Campine-controlled trading company will market all output, mainly in Asia.

Analyst inference

This is vertical integration: Campine moves from buying antimony metal toward owning smelting and ore-linked supply through its Thai partners' mines. That can reduce dependence on outside suppliers, support cost competitiveness and place Campine's proprietary antimony trioxide technology into an integrated ore-to-finished-product operation serving Asian markets.

Analyst inference

What to watch

1. Campine will acquire a minority stake in GTA's manufacturing operations, and all antimony trioxide output will be sold through a new trading company that Campine majority-controls, mainly targeting Asian markets. Confirmed
2. GTA plans to add a 4,000-tonne antimony trioxide production unit by the end of 2027, using Campine's proprietary technology, creating an integrated operation from antimony ore to finished antimony trioxide. Proposed
3. Investors can watch whether the Thai smelter, commissioned in 2025 with 8,000 tonnes of antimony metal capacity, reaches steady output, since Campine's supply security and cost benefits depend on reliable ore and production. Analyst inference

Evidence

• globenewswire.com