Welcome to our dedicated page for Ero Copper news (Ticker: ERO), a resource for investors and traders seeking the latest updates and insights on Ero Copper stock.
Ero Copper Corp. (ERO) generates frequent news and disclosures related to its copper and gold mining operations in Brazil and its corporate activities in Vancouver, British Columbia. News releases commonly cover operating and financial results, production performance at the Caraíba Operations and Tucumã Operation, and gold output from the Xavantina Operations.
Investors following ERO news can expect detailed quarterly updates on copper production in concentrate from Caraíba and Tucumã, gold production and costs at Xavantina, and commentary from management on operational performance and guidance. The company’s releases also describe milestones such as the achievement of commercial production at the Tucumã Operation and the progress of mine modernization and mechanization initiatives at Xavantina.
Ero’s news flow includes technical and exploration updates, particularly for the Furnas Copper-Gold Project in the Carajás Mineral Province. The company reports drill results, extensions of mineralization, and the status of multi-phase drill programs that support NI 43-101 mineral resource estimates and a planned preliminary economic assessment. At Xavantina, news has highlighted a value-creation initiative focused on high-grade gold concentrate stockpiles, including sampling programs, inferred mineral resource estimates and initial concentrate sales.
Regulatory and disclosure-related items, such as the filing of technical reports, sustainability reports and conference call announcements for quarterly results, are also regular subjects of Ero Copper’s press releases. For readers tracking ERO, this news page provides a centralized view of operational updates, exploration results and corporate disclosures that shape the company’s outlook.
Ero Copper Corp. (TSX: ERO, NYSE: ERO) has announced the filing of a Technical Report for the Furnas Copper-Gold Project. The report contains the initial NI 43-101 compliant mineral resource estimate that was previously announced on October 2, 2024. The Technical Report has been prepared according to Canadian Securities Administrator's National Instrument 43-101 standards and is now available on the company's website, SEDAR+, and will be filed on EDGAR.
Ero Copper announces key leadership changes effective January 1, 2025. Co-founder and Chairman Noel Dunn will retire from the Board, while CEO David Strang will become Executive Chairman. Makko DeFilippo, current President and COO, will be appointed President and CEO, joining the Board. Gelson Batista will succeed DeFilippo as COO.
DeFilippo, who joined Ero in 2017, has been instrumental in various strategic initiatives, including transforming Xavantina Operations, leading a $110 million streaming transaction with Royal Gold, and overseeing the Tucumã Operation construction. The company has grown from a 20,000-tonne-a-year copper producer and anticipates becoming a 100,000-tonne producer.
Ero Copper reported Q3 2024 financial results with consolidated copper production of 10,759 tonnes, including 839 tonnes from the newly commissioned Tucumã Operation and 9,920 tonnes from Caraíba Operations at C1 cash costs of $1.63/lb. Gold production reached 13,485 ounces at C1 cash costs of $539/oz. Financial highlights include net income of $40.9 million ($0.39/share diluted), adjusted net income of $27.6 million ($0.27/share diluted), and adjusted EBITDA of $62.2 million. The company updated 2024 guidance, lowering consolidated copper production to 43,000-48,000 tonnes due to power disruptions at Tucumã and development delays at Caraíba.
Ero Copper has released its 2023 Sustainability Report, titled 'Born in Brazil, Built for Tomorrow,' highlighting its ESG initiatives and achievements. Operating in Brazil, the company benefits from 85% renewable energy sources for its copper production. Key accomplishments include completing a $4.5 million renovation of the Curaçá Valley Polyclinic, implementing the Towards Sustainable Mining program, and achieving an 89% water recycling rate.
Environmental achievements include reclaiming 13 hectares of land using native species, bringing the total revegetated area since 2016 to 445 hectares. The company also progressed on constructing a dry-stack tailings facility at the Tucumã Project while maintaining its commitment to community development through initiatives like Project Hope at the Xavantina Operations.
Ero Copper Corp. announced the full restoration of power at its Tucumã Operation in Pará State, Brazil, following a temporary disruption due to a severe windstorm on October 5, 2024. The company has resumed the ramp-up of milling, flotation, and filtration circuits within the processing plant.
Ero Copper Corp. (TSX: ERO, NYSE: ERO) has announced the release date for its third quarter 2024 operating and financial results. The company will publish the results on Tuesday, November 5, 2024 after market close. Following the release, Ero Copper will host a conference call to discuss the results on Wednesday, November 6, 2024 at 11:30am Eastern time (8:30am Pacific time).
Interested parties can join the conference call using the following details:
- Canada/USA Toll Free: 1-844-763-8274
- International: +1-647-484-8814
- Webcast link available
- Replay options provided
Participants are advised to dial in 5-10 minutes prior to the call's start time or pre-register using the provided link to bypass the live operator queue.
Ero Copper Corp. (TSX: ERO, NYSE: ERO) reports a temporary power disruption at its Tucumã Operation following a severe windstorm in Pará State, Brazil on October 5, 2024. The storm damaged the regional power grid, affecting over 200,000 residents and major industrial users. While residential power has been restored, full restoration for industrial consumers is expected within two weeks.
The disruption has impacted the milling, flotation, and filtration circuits of the processing plant, while mining and crushing operations continue unaffected. Ero Copper anticipates the primary impact will be on the processing plant's ramp-up schedule and full-year production results. The company remains prepared to manage this temporary situation and will provide updates as it develops.
Ero Copper Corp. has announced an initial NI 43-101 compliant mineral resource estimate for the Furnas Copper-Gold Project in Brazil's Carajás Mineral Province. At a 1.00% copper equivalent cut-off grade, the estimate includes:
- Indicated Mineral Resource: 35.2 million tonnes grading 1.04% copper and 0.69 gpt gold (1.36% CuEq), containing 364,700 tonnes of copper and 775,300 ounces of gold
- Inferred Mineral Resource: 61.3 million tonnes grading 1.06% copper and 0.63 gpt gold (1.36% CuEq), containing 647,400 tonnes of copper and 1,235,600 ounces of gold
The estimate is based on over 90,000 meters of historic drilling. Ero Copper plans a Phase 1 drill program focusing on improving definition of high-grade zones and extending known mineralization. The company has an earn-in agreement with Vale Base Metals to acquire a 60% interest in the project.
Ero Copper (NYSE: ERO) reported Q2 2024 results, highlighting significant operational achievements and financial performance. The company produced 8,867 tonnes of copper at C1 cash costs of $2.16 per pound and 16,555 ounces of gold at C1 cash costs of $428 per ounce. Ero reached a major milestone with the first saleable copper concentrate at the Tucumã Project, ramping up to commercial production.
Financially, net loss was $53.2 million or $0.52 per share, with an adjusted net income of $18.6 million or $0.18 per share. Adjusted EBITDA stood at $51.5 million, and available liquidity was $169.8 million. The company reaffirmed its full-year copper production guidance of 59,000 to 72,000 tonnes and increased gold production guidance to 60,000 to 65,000 ounces. The copper C1 cash cost target remains at $1.50 to $1.75 per pound, while gold C1 cash cost guidance is reduced to $450 to $550 per ounce.
Capital expenditure guidance has been narrowed to $303 to $348 million. Ero's CEO, David Strang, expressed optimism about achieving record production levels this year.
Ero Copper Corp. (TSX: ERO, NYSE: ERO) has confirmed a fatal accident at its Caraíba Operations. The incident, involving a light-duty truck in a non-operational surface area, resulted in the death of one team member and left another in critical condition. In response, the company:
1. Activated emergency response and safety protocols
2. Suspended operations temporarily
3. Notified relevant government authorities
4. Initiated a full investigation
Operations at Caraíba are expected to resume the following day. CEO David Strang expressed deep sadness over the incident and extended thoughts to the affected families and community.