VANCOUVER, British Columbia, April 05, 2023 (GLOBE NEWSWIRE) — Ero copper corp ERO NYSE: ERO) (“Ero” or the “Company”) is pleased to provide an updated five-year operational outlook reflecting the Company’s continued execution of ongoing strategic growth initiatives, including projected first production from the Tucumã operation in 2024 and first production at Utilization of the new outer shaft at Caraíba Operations’ Pilar mine in 2027.
HIGHLIGHTS
At rail To Delivery Significant Short term growth
- Consolidated copper production is expected to increase approximately 125% from 2022 levels to a range of 100,000 to 110,000 tonnes in 2025, above the Company’s previous 2025 production guidance of 92,000 to 102,000 tonnes1
- Gold production is on track to grow approximately 40% from 2022 to a range of 55,000 to 60,000 ounces per year from 2024
Tucuma production To plan advanced from To fill Drill program & stock optimization
- Higher expected copper grades at Tucumã during the first three years of operation driven by a positive grade match from recent infill drilling
- Further increases in processed copper grades driven by inventory optimization related to a planned increase in mine rates in 2025 and 2026 compared to the Company’s five-year guidance released in 20221 (the “5-Year Outlook 2022”)
Caraiba outlook reflects Success from Project honey pot
- The improved copper grade forecasts of the Caraíba operations compared to the 5-year outlook 20221 driven by the success of Project Honeypot
- The ongoing integration of the Honeypot project into Caraíba’s Life-of-Mine (“LOM”) production schedule has allowed approximately $55 million to be deferred2 of the new external shaft-related capital from 2022 to the following periods
Xavantina outlook showcases Constantly execution from NX 60 initiative
- Higher expected gold grades compared to 5-year 2022 outlook1 demonstrate continued value creation through investments in exploration and underground infrastructure
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