Africa-Press – Mozambique. Mozambique’s aluminium export revenues reached a record $1.347 billion (€1.172 billion) in 2025, according to official data. The sector relied entirely on Mozal, the nation’s largest industrial facility, which was placed under care and maintenance on 15 March.
According to data compiled by Lusa from the latest Bank of Mozambique export report, the volume from January to December 2025 represents a 20% increase over the $1.126 billion (€980 million) recorded in 2024. This figure compares with the $1.101 billion (€959 million) achieved in 2023.
Mozambique’s aluminium bar exports have grown steadily. The central bank explained in a previous report that “higher prices and increased export volumes” drove this rise.
The Australian firm South32 confirmed on 16 March that Mozal, Mozambique’s largest industry, had been under maintenance and conservation since the previous day.
The company expects to spend €52.4 million on the smelting suspension, including staff redundancies.
“Over the past six years we have engaged extensively with the Government of the Republic of Mozambique, Eskom [South African company that bought electricity from Mozambique and sold it to the smelter] and other key stakeholders but were unable to secure sufficient and affordable power supply for Mozal beyond March 2026,” stated South32 (which owns 63.7% of the smelter) CEO Graham Kerr said in a company release.
The smelter, one of Africa’s largest with over 1,000 direct and 4,000 indirect employees, halted production on Sunday. South32 reported on Wednesday that it expects to spend $60 million (€52.4 million), including on “contract terminations”. Maintenance alone will cost $5 million (€4.4 million) annually.
“While this is not the outcome we wanted, we are proud of the history and significant contribution Mozal has made to the local community and the Mozambican economy in its 25 years of operation,” Kerr said.
At least five companies closed shortly before the smelter suspended operations, and dozens more may halt operations at the Beluluane Industrial Park in southern Mozambique due to the Mozal shutdown, according to the park’s management company.
“We estimate some 25 companies providing goods and services to Mozal. We have been informed that most of these firms, following the halt of activities at Mozal, are considering activating mechanisms in the same proportion,” Onório Manuel, Director-General of Mozparks, told Lusa on 13 March.
Mozparks manages the country’s largest industrial park, located 20 kilometres from Maputo.
The factory’s departure from Mozambique points to a “disastrous” impact on the park’s growth and development, which, according to Manuel, was “accelerating and attracting more and more industries.”
“Mozal contributed an average of 49% to the manufacturing industry’s share of the Gross Domestic Product.
Mozambique’s GDP is €16 billion [€13.8 billion], and manufacturing contributes 10%. We are talking about a $1.6 billion [€1.3 billion] industrial contribution.
Almost half of that comes from Mozal, so even Mozambique’s GDP, especially in the social sector, will decrease,” he said.
South32 previously described the energy tariff proposed for the Mozal aluminium smelter in Maputo as “totally unsustainable”, thus justifying its closure.
However, the firm has not ruled out restarting Mozambique’s largest industry if conditions change.
During a recent call with Australian investors, the transcript of which Lusa accessed, South32 CEO Graham Kerr said that the “only formal offer” for power supply from the South African utility Eskom was nearly $100 per megawatt-hour (MWh). Kerr said that “outside China, less than 1%” of smelters have contracts exceeding US$50 per MWh.
