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. reports on a Brazil-focused mining portfolio built around copper and gold production. The company operates the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State for copper concentrate, and the Xavantina Operations in Mato Grosso State as a producing gold mine.
Recurring company news covers operating and financial results, copper and gold production, C1 cash costs, capital spending, production guidance, and portfolio optimization. Updates also address the Furnas Copper-Gold Project in the Carajás Mineral Province, including preliminary economic assessment work, technical reports, exploration, engineering, permitting, and the earn-in framework tied to that project.
Ero Copper Corp has been granted an Operational License for the Tucumã Project, ensuring it is on track for its first copper production in early Q3 2024. The project is near physical completion at 99%, with commissioning well advanced and over 90% of operational staff hired and trained. Direct capital costs for the project remain steady at $310 million. Key milestones include the successful installation of mechanical and electrical equipment, completion of pre-stripping activities, and the placement of approximately 110,000 tonnes of ore on the run-of-mine stockpile. Safety has been a priority, with over six million hours of work completed without lost-time injuries since 2022. The company anticipates initiating the project ramp-up in early Q3 2024.
Ero Copper Corp. reports first-quarter financial results with continued strong performance and record gold production. The Tucumã Project is on track for first copper concentrate production in Q3 2024. The company achieved 97% physical completion and maintained direct project capital costs at $310 million. First-quarter copper production was 8,091 tonnes at C1 cash costs of $2.30 per pound. Gold production hit a record 18,234 ounces with C1 cash costs of $395 per ounce and AISC of $797 per ounce. Financial results reflect a net loss of $7.1 million and adjusted net income of $16.8 million. Available liquidity at quarter-end was $156.7 million, with increased 2024 gold production guidance and reaffirmed production, cost, and capital expenditure guidance for the year.
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