Ivanhoe矿业双矿齐创纪录：Kamoa-Kakula铜产量逼近63万吨年化，基普什锌矿产能全面释放

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

Ivanhoe矿业双矿齐创纪录：Kamoa-Kakula铜产量逼近63万吨年化，基普什锌矿产能全面释放

2025-04-08 10:56:23 来源：北方有色网责任编辑：韩泽楷

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Ivanhoe矿业公司在刚果民主共和国（DRC）运营的Kamoa-Kakula铜矿和基普什（Kipushi）锌矿近期产量均创下历史新高，展现了强劲的生产能力和增长潜力。以下是关键信息总结：

1. Kamoa-Kakula铜矿的突破性进展

2025年第一季度产量：铜产量达133,120吨，接近历史最高水平，3月最后两周的年化产量甚至达到63万吨，远超公司2025年52万-58万吨的年度目标。
电力供应改善：水力发电进口量从50兆瓦增至70兆瓦，预计近期将达100兆瓦，为冶炼厂启动提供支持。新冶炼厂计划于2025年7月生产99.7%纯度的铜阳极，年底前产能提升至80%，预计将显著降低现金成本并减少运输费用。
长期规划：通过“项目95计划”提升选矿回收率至95%（原87%），2026年完工后每年可增产3万吨铜，资本支出约1.8亿美元。

2. 基普什锌矿的纪录表现

2025年第一季度产量：锌产量达42,736吨，创纪录水平，2月已实现设计产能。公司维持2025年18万-24万吨的年度目标，并计划2026年扩产至25万吨。
运营效率：选厂处理能力达每日2,000吨矿石，平均回收率88%，精矿锌品位53%，未来数月有望进一步提升。
历史背景：该矿于2024年6月重启（此前停产31年），2024年全年产锌5万吨，12月单月产量达1.49万吨，接近设计。

3. 市场与战略意义

铜矿地位：Kamoa-Kakula是全球增长最快的铜矿之一，2024年产量43.7万吨（同比增长12%），三期选厂投产后2025年产能进一步提升。
锌矿潜力：基普什锌矿品位超高，预计将成为全球第四大锌矿，对中国市场影响有限（主要销往托克集团和中信金属）。
能源与成本优化：依赖水电和电网升级（如英加二期水电站178兆瓦供电）降低运营成本，同时冶炼厂投产后将减少精矿运输依赖。

4. 挑战与风险

电力供应波动：尽管雨季改善水电储备，但赞比亚和莫桑比克旱季可能影响进口电力，公司计划从安哥拉补充供电。
冶炼厂延迟风险：1月火灾损坏36兆瓦备用发电机，修复需3-6个月，可能影响冶炼厂调试进度。

总结

Ivanhoe通过技术创新和资源整合，推动两大矿山产量持续突破。Kamoa-Kakula的冶炼厂投产和基普什的产能爬坡将巩固其在全球铜锌市场的领先地位，同时降低成本和环境足迹。投资者需关注能源供应稳定性和金属价格波动对短期业绩的影响。

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Ivanhoe矿业双矿齐创纪录：Kamoa-Kakula铜产量逼近63万吨年化，基普什锌矿产能全面释放

1. Kamoa-Kakula铜矿的突破性进展

2. 基普什锌矿的纪录表现

3. 市场与战略意义

4. 挑战与风险

总结

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