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俄法院支持俄铝13.2亿美元诉讼力拓面临跨国法律困局

2025-12-16 16:08:16 来源：北方有色网责任编辑：王欣悦

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莫斯科时间12月15日，俄罗斯法院正式作出裁决，支持俄罗斯铝业公司(下称“俄铝”)对全球矿业巨头力拓集团提起的诉讼请求，涉案金额高达1047.5亿卢布(约合13.2亿美元)。这一判决不仅加剧了双方围绕澳大利亚昆士兰氧化铝精炼厂的长期争端，更使力拓在蒙古的核心资产陷入司法风险，折射出地缘冲突下全球铝业供应链的深层动荡。

争端核心：被接管的合资精炼厂

此次法律纠纷的焦点，是位于澳大利亚昆士兰州的昆士兰氧化铝有限公司(QAL)精炼厂。这家工厂由力拓持股80%，俄铝通过其子公司ABC持有剩余20%股权，双方长期以“铝土矿换氧化铝”的模式合作——俄铝向工厂供应铝土矿，以此换取等额的氧化铝产出。这种合作模式曾让俄铝稳定获取全球约5%的氧化铝供应，对其维持西伯利亚铝冶炼厂运转至关重要。

转折点出现在2022年俄乌冲突升级后。澳大利亚政府随即出台对俄制裁措施，明确将氧化铝、铝土矿等铝产业核心原料纳入出口禁令范畴。同年3月，力拓以“规避制裁风险”为由，单方面接管了QAL精炼厂的全部运营权，彻底切断了俄铝对该厂20%权益产能的获取渠道。力拓方面援引双方早年合资协议称，若俄铝关联方受到美澳制裁，其产能份额将自动重分配给力拓;但俄铝反驳称，制裁仅针对公司部分股东个人，并非企业本身，不应触发该条款。

诉讼拉锯：从澳洲败诉到俄境胜诉

为夺回权益，俄铝率先在澳大利亚提起诉讼，要求恢复其在QAL的股东权利。然而在2024年2月，澳大利亚联邦法院驳回了俄铝的诉求，不过明确该判决未剥夺俄铝的股权本身，仅暂不支持其行使产能获取权。受挫后的俄铝随即转向俄罗斯本土司法体系，将力拓及其在蒙古的核心子公司一并列为被告，最终迎来本次胜诉。

值得关注的是，俄铝此次诉讼特意将力拓持有的蒙古奥尤陶勒盖铜金矿子公司纳入被告名单。该铜矿是全球第二大未开发铜金矿，力拓通过2025年完成的收购已实现66%的绝对控股，剩余34%由蒙古政府持有。由于蒙古未对俄实施制裁且与俄保持友好关系，俄铝试图通过蒙古资产施压的诉讼策略已初见成效。目前该诉讼细节虽以闭门审理形式未完全公开，但力拓在无俄罗斯本土资产的情况下，其蒙古业务可能面临资产冻结风险。

供应链重构：俄铝的“去澳化”突围

制裁导致的氧化铝断供曾给俄铝带来致命打击——2022年其权益氧化铝产量同比骤降28.3%，40%的原料缺口需依赖高价现货采购。为破解困局，俄铝近年来加速推进供应链多元化，形成“中国采购+印度布局+本土建设”的三角支撑体系。

中国已成为俄铝最核心的替代供应源。数据显示，2025年1-9月中国累计向俄出口氧化铝151.58万吨，占同期中国氧化铝出口总量的75.8%，其中9月单月出口量达23.15万吨，创近五年新高。为锁定长期供应，俄铝在2023年以3.16亿美元收购中国河北文丰新材料30%股权，获得这家年产能480万吨精炼厂的相应权益产能。

在印度市场，俄铝于2025年8月完成对先锋铝业26%股权的收购，耗资2.4375亿美元。根据协议，俄铝将分三阶段增持至50%控股，全面掌控这座位于安得拉邦、年产能150万吨的精炼厂。本土产能建设同样提速，俄铝计划投资4000亿卢布在列宁格勒地区新建氧化铝厂，项目分两期推进，2028年一期投产后将形成240万吨年产能，2032年全部建成后总产能可达480万吨。

全球铝业：地缘阴影下的格局重塑

此次俄法院判决并未终结争端，力拓方面尚未作出公开回应，法律界预计其可能通过国际仲裁或蒙古司法体系提出抗辩。而对于全球铝产业而言，这场持续三年的争端标志着“资源武器化”正深刻改变行业规则。

作为全球第二大原铝生产国，俄罗斯的供应链重构已引发连锁反应——伦敦金属交易所仓库中俄罗斯品牌铝占比达76%，中国市场对俄原铝进口量占比从2022年的27%飙升至2025年的84%。业内分析认为，随着俄铝本土产能在2028年后释放，全球氧化铝定价体系可能出现分化，而力拓与俄铝的法律博弈或将成为跨国企业应对地缘风险的典型案例。

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[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 15 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001297s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 16 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001437s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 17 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001284s ]
[ SQL ] SELECT * FROM `tb_cate` WHERE `pid` = 3 AND ( `id` < 3871 AND `id` NOT IN (25,3243,3244) ) ORDER BY `sortid` ASC [ RunTime:0.001301s ]
[ SQL ] SELECT * FROM `tb_advert` WHERE `id` = 48 LIMIT 1 [ RunTime:0.000315s ]
[ SQL ] SELECT * FROM `tb_advert` WHERE `id` = 49 LIMIT 1 [ RunTime:0.000286s ]
[ SQL ] SELECT * FROM `tb_advert` WHERE `id` = 50 LIMIT 1 [ RunTime:0.000291s ]
[ SQL ] SELECT * FROM `tb_para` WHERE `id` = 1 LIMIT 1 [ RunTime:0.000371s ]

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俄法院支持俄铝13.2亿美元诉讼力拓面临跨国法律困局