Anglo American 铜产量剖析：智利、秘鲁双引擎的起伏与未来

基础金属	铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁
稀有金属	稀土稀土矿稀土氧化物稀土金属钕铁硼稀散金属锑铋铟锗镓硒钽锆贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒
新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

基础金属

铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁

稀有金属

稀土稀土矿稀土氧化物稀土金属钕铁硼 稀散金属锑铋铟锗镓硒钽锆 贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒

新能源

锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰 锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

Anglo American 铜产量剖析：智利、秘鲁双引擎的起伏与未来

2025-02-11 15:56:44 来源：北方有色网责任编辑：韩泽楷

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Anglo American 在 2024 年第四季度的铜产量表现引发行业关注，该季度铜产量达 19.8 万吨，同比减少 13.9%，不过环比增长 9.4%。季度环比增长 9%，其中 Quellaveco 在本季度表现强劲，成为产量增长的重要支撑。但与 2023 年同期相比，产量下降 14%，主要归因于计划关闭规模较小且成本更高的 Los Bronces 工厂，以及 Collahuasi 铜矿品位的预计下降。

智利地区产量情况

整体产量：2024 年第四季度，智利地区的生产受计划内 Los Bronces 工厂停产影响，该工厂于 2024 年 7 月进入维护保养状态。同时，Collahuasi 矿石品位预计下降，导致同比产量减少 21%，降至 107,300 吨。但全年总产量达 466,400 吨，高于市场预期的 430,000 至 460,000 吨。
主要矿山产量：Collahuasi 铜产量同比下降 22%，降至 56,100 吨，主要源于矿石品位下降与铜回收率降低。随着矿山处于不同阶段过渡，预计 2025 年仍将持续加工低品位矿石堆。Los Bronces 产量下降 32%，降至 38,700 吨，因按照计划并于 2024 年 7 月底宣布，将占总产能约 40% 的规模较小且成本较高的 Los Bronces 工厂置于维护保养状态。当前矿山阶段低品位和矿石硬度特征将持续影响运营，直至下一阶段开始，届时预计矿石品位更高、更易处理。此前声明，下一阶段开发工作正在推进，预计 2027 年起对生产产生积极影响。而 El Soldado 产量增长 71%，达到 12,500 吨，得益于计划内的高品位矿石（0.94% 对比 0.62%）、更高的吞吐量（传统磨矿生产线利用率提高）以及更高的铜回收率（79% 对比 77%）。

秘鲁地区产量情况

Quellaveco 在 2024 年第四季度产量为 90,200 吨，较对比期下降 4%，原因是回收率较低（79% 对比 84%）和预期中的矿石品位下降（0.89% 对比 0.95%），但环比增长 31%，符合全年指导范围。按计划，2025 年矿山矿石品位预计与 2024 年相似，同时将开展下一阶段开采和开发工作，以在未来中长期提供更大灵活性。2025 年优化粗颗粒回收厂仍是首要任务，预计全年回收率将逐步提升。

2025 年产量指导

Anglo American 给出 2025 年铜产量指导区间为 69 万 - 75 万吨，其中智利地区产量预计在 38 万 - 41 万吨，秘鲁地区产量预计在 31 - 34 万吨。

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Anglo American 铜产量剖析：智利、秘鲁双引擎的起伏与未来

智利地区产量情况

秘鲁地区产量情况

2025 年产量指导

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