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 (TSX: ERO, NYSE: ERO) announced the results from its annual general meeting (AGM) held virtually on April 27, 2022. A total of 76,996,438 shares, representing 85.33% of outstanding shares, were voted. Shareholders approved all business items, including re-election of nine directors and the advisory vote on executive compensation. KPMG LLP was reappointed as the auditor. The advisory vote on executive compensation showed 93.15% approval, confirming shareholder support for the company's compensation practices.
Ero Copper Corp. reported record financial results for the year ended December 31, 2021, with copper production of 45,511 tonnes and gold production of 37,798 ounces. Adjusted EBITDA reached $331.9 million, marking a significant increase from the previous year. The fourth quarter generated adjusted net income of $59.7 million, or $0.65 per share. The company maintains strong liquidity, with $230.1 million available as of year-end. Looking ahead, Ero plans to commence construction on the Boa Esperança Project in Q2 2022 and aims for substantial growth with projected annual production of 100,000 tonnes of copper and 60,000 ounces of gold by 2025.
On March 8, 2022, Ero Copper Corp. announced its upcoming exploration technical session on March 10, 2022, at 12:00 PM ET. The session aims to update stakeholders on ongoing exploration efforts and objectives for 2022. Key presenters include the President and Chief Geological Officer. This initiative is part of a series of semi-annual sessions to enhance understanding of the Company’s exploration programs. Presentation materials will be available on the Company’s website, and the webinar will be accessible for 90 days.
Ero Copper Corp. has received Board approval to commence construction of the Boa Esperança Project in Brazil, anticipated to begin in Q2 2022, with first production expected in Q3 2024. The Company has made substantial progress on critical contracts and engineering designs. A recent $400 million senior unsecured notes offering enhances liquidity for growth initiatives aimed at doubling copper production while maintaining competitive operating costs. CEO David Strang emphasized the project's potential for significant production increase with low capital investment of around $300 million.
Ero Copper Corp. has announced a pricing offering of US$400 million in Senior Notes due 2030, with an interest rate of 6.50%. The issue will close on February 2, 2022, under customary conditions. Proceeds will be used to reduce a $50 million credit facility and fund the Boa Esperança Project development, expected to commence in Q2 2022. Additionally, the senior secured revolving credit facility will be reduced from $150 million to $75 million post-offering. The Notes will be sold privately with no registration under the Securities Act.
Ero Copper Corp. (TSX: ERO, NYSE: ERO) has announced plans to offer $400 million in Senior Notes due 2030. The offering aims to reduce the company's senior secured revolving credit facility from $150 million to $75 million and fund capital expenditures for the Boa Esperança Project, expected to commence in Q2 2022, pending Board approval. The Notes will be guaranteed by Ero's subsidiary Mineração Caraíba S.A. and sold primarily to qualified institutional buyers within the U.S. and outside of the U.S. under specific regulations.