Campine Invests 7 Million Euros in New Antimony Recycling Technology
The Belgian group Campine announces an investment of 7 million euros in the third generation of its proprietary antimony recycling technology, according to a press release issued on Wednesday. The company also confirms the imminent transition of its stock to the continuous market of Euronext Brussels.
Board Approves Investment in Advanced Recycling Technology
The board of directors of Campine, meeting on December 17, 2025, approved an investment in a new generation of antimony recycling technology, the company reports. This facility will enable the production of an additional 800 to 1,000 tons per year of commercial-grade antimony metal from various industrial waste streams. Unlike previous generations focused on direct recycling into antimony trioxide for internal use, this new technology will allow Campine to market recycled antimony metal to third-party clients in Europe for applications requiring this critical raw material, according to the press release. The facility is scheduled to be operational by mid-2027. The group presents itself as the only company in the world with proprietary technology capable of recycling antimony from industrial waste directly into new commercial products.
Campine Shares to Transition to Continuous Trading on Euronext Brussels
Campine's shares, listed since 1936, have so far been traded on the double fixing market of Euronext Brussels. According to the company, demand for Campine's stock has significantly increased over the past year. The fixing market is designed for securities with relatively limited trading activity, generally less than 2,500 transactions per year. However, Campine's stock has already recorded more than 10,000 transactions in 2025, the press release specifies. After consultations with market specialists and the management of Euronext, the board of directors decided to request the transition of the stock to the continuous market of Euronext Brussels. This transition is expected to occur in the coming days. Continuous trading will allow shareholders to buy and sell shares throughout the trading day, improving accessibility and flexibility of transactions. According to CEO Wim De Vos, quoted in the press release, this move to the continuous market should increase the visibility of the stock and lead to a modest improvement in liquidity.
Antimony Market Cools Down, Prices Stabilize
After reaching a peak of about $60,000 per ton during the summer, the antimony market has cooled, the company indicates. Prices have returned to levels below $40,000 per ton, comparable to those seen about twelve months ago. According to Wim De Vos, this correction represents a healthy development in the market, as some clients have begun to substitute antimony trioxide due to cost pressures at peak price levels. The company now observes a gradual recovery in demand. Prices are expected to decrease slightly as antimony metal supply has been restored with the commissioning of new smelters in Southeast Asia, the press release specifies. China has not resumed its exports of antimony compounds, including antimony trioxide, despite earlier indications that export restrictions might be eased. The integration of the three Ecobat sites acquired within Campine's Circular Metals division is progressing as planned, with initial synergies in battery recycling already implemented. The group confirms its operational outlook for 2025, with an EBITDA exceeding 80 million euros for the historical perimeter of Campine, excluding the Ecobat acquisition. The consolidation of the fourth quarter 2025 results from the Ecobat plants is expected to further increase this result. The exceptional profitability expected for 2025 will represent an absolute record, more than doubling the result obtained in 2024. Given the downward correction in antimony metal prices and the persistent market volatility, such exceptional results will be more challenging to maintain in 2026, the company indicates.
