South32公司 2025 财年业绩显著增长，铝业务产能前景分化

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

South32公司 2025 财年业绩显著增长，铝业务产能前景分化

2025-08-28 17:02:12 来源：北方有色网责任编辑：王欣悦

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2025年8月28日(周四)，澳大利亚多元化矿产商South32公司公布了2025财年(截至2025年6月30日)全年财务业绩报告。报告显示，在主要大宗商品价格上涨以及铝、铜产量增加的双重推动下，公司全年利润实现显著增长。

利润增长显著

South32公司2025财年基本收益达到6.66亿美元，相较于上一财年的3.8亿美元，大幅增长了75%。这一出色的业绩表现得益于公司在多个业务板块的良好运营。

在产量方面，2025财年铝产量同比增长6%，达到121.1万吨。氧化铝产量则保持稳定，维持在510万吨水平。产量的增长为公司利润增长提供了坚实基础。

铝业务产能规划

山坡铝厂(Hillside)

位于南非的山坡铝厂(Hillside)通过持续突破技术产能上限，展现出良好的发展态势。预计在2026-2027财年，该厂将保持72万吨的年产能，稳定为公司贡献铝产量。

阿卢慕铝厂(Alumar)

巴西阿卢慕铝厂(Alumar)因三条电解槽生产线全面投产，产能提升明显。2026财

年产量预增长16%，达到16万吨;2027财年进一步增长3%，至16.5万吨。这将使阿卢慕铝厂在公司铝业务中的地位愈发重要。

莫扎尔铝厂(Mozal)

莫扎尔铝厂(Mozal)在莫桑比克国内动荡的情况下，完成了产能恢复计划。然而，受电力供应不确定性影响，集团于2025年8月14日宣布限制对该厂投资。由于现有电力协议将于2026年3月到期，且无法获得充足廉价电力，该厂计划自2026年3月起进入维护状态。受此影响，2026财年产量预计降至24万吨，且仅维持至协议到期前运营。

South32公司在2025财年取得了出色的业绩，铝业务虽在不同厂区呈现出不同的发展态势，但公司整体依然在矿产领域展现出强大的竞争力。未来，公司将如何应对莫扎尔铝厂的困境，以及如何进一步挖掘其他铝厂和业务板块的潜力，值得市场持续关注。

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South32公司 2025 财年业绩显著增长，铝业务产能前景分化

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