Nyrstar

What Nyrstar does

Nyrstar NV is a Belgian public limited company (Euronext Brussels: NYR) engaged in the mining, smelting, and refining of zinc, lead, and other base and precious metals, headquartered in Belgium and majority-owned by Trafigura via Urion Investments Holdings Ltd. The company operates two core production assets in Australia — the Port Pirie multi-metals facility in South Australia and the Hobart zinc smelter in Tasmania — and previously operated a US processing plant in Clarksville, Tennessee that was divested to Korea Zinc in December 2025 as part of the $7.4 billion Project Crucible investment.

The company's underlying technology is multi-metals pyrometallurgical smelting and refining, with Port Pirie designed to co-produce lead, zinc, and critical minerals including antimony from shared process infrastructure. In February 2026, Port Pirie completed its first commercial antimony shipment, with a stated scale-up target of 5,000 tonnes of antimony annually (approximately 15% of global production), positioning Nyrstar as a strategic alternative to Chinese supply following China's December 2025 antimony export ban to the US. The company also ranks among the top five global producers of zinc sulphate, serving agriculture (47% of zinc sulphate use) and pharmaceutical (36%) end markets.

Nyrstar's revenue model is primarily commodity metal sales priced against London Metal Exchange benchmarks, sold directly to industrial customers, defense customers (including the US Department of Defense), and energy storage manufacturers through offtake agreements. A second material revenue stream is direct government support: the Australian federal, South Australian, and Tasmanian governments have committed over $240 million across two funding packages ($135M in August 2024 and $105M in June 2026) to sustain operations. The company faces significant headwinds including monthly operating losses at Port Pirie, an active Belgian criminal investigation into alleged forgery and misuse of corporate assets, shareholder petitions for a provisional administrator, and a deferred corporate continuation vote.

Name

Nyrstar

Legal name

Nyrstar NV

Website

https://nyrstarnv.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Nyrstar NV is a Belgian-listed base metals miner and smelter (controlled by Trafigura) that produces zinc, lead, and antimony at its Port Pirie and Hobart facilities in Australia, supplying industrial, defense, and energy storage customers as a strategic non-China source of critical minerals.

Ownership category

akta.pro rank

Product category

Base Metals Smelting

NAICS

Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Copper, Nickel, Lead, and Zinc Mining (21223), Primary Metal Manufacturing (331)

SIC

Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Zinc smelting
• Lead production
• Antimony refining
• Base metals mining
• Critical minerals supply

Headquarters

HQ city

Budel

HQ country

Netherlands

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Metal Sales: Revenue generated from sale of refined base metals including zinc, lead, and antimony produced at smelting facilities. The company sells to industrial customers and offtake partners.
2. Government Support Payments: Australian federal, South Australian, and Tasmanian state governments provide funding packages to support continued operations of smelters, including $135 million package in 2024 and $105 million package in 2026.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Core offering

Nyrstar is a base-metals miner and multi-metals smelter that produces refined zinc, lead, and critical minerals including antimony at its Australian facilities (Port Pirie multi-metals facility in South Australia and Hobart zinc smelter in Tasmania). The company sells these refined metals directly to industrial customers, defense sectors, and green-energy manufacturers through offtake agreements, with pricing benchmarked to London Metal Exchange rates. Following China's December 2025 export ban on antimony to the US, Nyrstar has scaled antimony output to a targeted 5,000 tonnes annually (~15% of global production).

Product overview

Nyrstar is a base metals smelting company operating multiple facilities across Australia, including the Port Pirie multi-metals facility in South Australia and the Hobart zinc smelter in Tasmania. The company produces zinc, lead, and critical minerals including antimony. Following China's export ban on antimony to the US in December 2025, Nyrstar has positioned itself as a strategic alternative supply source, with its Port Pirie facility completing its first commercial antimony shipment in February 2026 and scaling up to produce 5,000 tonnes annually (approximately 15% of global production). The company's operations have received Australian federal and state government support totaling over $240 million in funding packages.

Differentiator

Problem solved

Functional benefit

Products and services

• Port Pirie Multi-Metals Facility Multi-metals smelting facility in Port Pirie, South Australia, producing lead, zinc, and critical minerals including antimony for defense, industrial, and green-energy customers. Approximately 800 direct employees. The facility completed its first commercial antimony shipment in February 2026.
• Hobart Zinc Smelter Zinc smelting operation in Hobart, Tasmania, producing zinc and associated metals, with approximately 600 direct jobs and 1,000 indirect jobs. Included in Australian government funding packages supporting critical minerals production and pre-feasibility studies for expansion.
• Antimony Production Critical mineral antimony production from Australian facilities, supplying defense applications (munitions, infrared sensors, fire-resistant coatings) and green-energy technologies (long-duration battery storage systems). Targeted 5,000 tonnes of annual capacity represents ~15% of global production.

Quantifiable outcome

• Antimony production capacity of 5,000 tonnes annually, representing 15% of global production
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Korea ZincminorOthers · 1 December 2025Korea Zinc acquired the Nyrstar processing plant in Clarksville, Tennessee in December 2025 as part of Project Crucible, a $7.4 billion investment to build new refining operations. The acquisition transitioned the facility from Nyrstar to Korea Zinc ownership.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Glencore: Glencore is the world's largest zinc producer and a top-five zinc sulphate producer alongside Nyrstar. As a diversified mining and trading giant, it operates across the full zinc value chain (mining, smelting, trading) and directly competes with Nyrstar's smelting business.
• Aurubis: Aurubis is one of the world's largest copper recyclers and a major nonferrous metals processor. While primarily focused on copper, it operates multi-metals smelting facilities comparable in technology and customer base to Nyrstar's refining operations.

Direct peers

• Vedanta Resources: Vedanta, through Hindustan Zinc, is one of the world's largest integrated zinc-lead producers and a top-five zinc sulphate producer alongside Nyrstar. It operates zinc smelting and refining at scale serving similar industrial customers.
• Hindustan Zinc: Hindustan Zinc is one of the largest zinc-lead smelters globally and a top-five zinc sulphate producer alongside Nyrstar. Its integrated mining-to-refining model directly mirrors Nyrstar's zinc-lead smelting business.
• Boliden: Boliden is a Swedish miner and smelter producing zinc, lead, copper, and other base metals, with similar European smelting footprint and critical-minerals exposure. It is a direct comparable for Nyrstar's integrated metals business.
• Teck Resources: Teck Resources is a major integrated zinc and lead producer with smelting operations and is named as a top-five global zinc sulphate producer alongside Nyrstar. It is directly comparable in producing refined zinc and lead for industrial markets.
• Korea Zinc: Korea Zinc is one of the world's largest zinc and lead smelters and acquired Nyrstar's Clarksville plant for $7.4B in December 2025. It competes head-to-head with Nyrstar in the same nonferrous metals refining category and was the counterparty in the Project Crucible critical minerals buildout.
• MMG Limited: MMG is a global base metals miner with major zinc and copper operations, including the Las Bambas and Dugald River mines. It competes with Nyrstar in producing refined base metals for industrial markets.
• Industrias Peñoles: Peñoles is a major Mexican metals producer with significant zinc, lead, and silver smelting operations. Its multi-metals refining platform is directly comparable to Nyrstar's Port Pirie facility in producing lead, zinc, and by-product critical minerals.

Others

• Penpol/Trafigura commodity trading: Trafigura is Nyrstar's controlling parent (via Urion Investments Holdings) and one of the world's largest commodity traders. While not a direct smelting competitor, it shapes Nyrstar's access to raw-material feedstocks and offtake channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nyrstar