Ero Copper Reports 2024 Production Results and Sets Ambitious 2025 Guidance

Ero Copper Corp. has announced its 2024 production results alongside its 2025 guidance and a revised three-year production outlook. The company reported record quarterly copper production of 12,883 tonnes in Q4, contributing to a consolidated total of 40,600 tonnes for the year. The Caraíba Operations met revised guidance with 35,444 tonnes of copper produced, while the Tucumã Operation, despite steady progress, fell short of revised expectations with 5,156 tonnes.

Gold production at the Xavantina Operations totaled 57,210 ounces, meeting the midpoint of original guidance but slightly below the increased 2024 targets.

To support its expanding operational footprint, Ero Copper amended its senior secured revolving credit facility post-year-end, increasing commitments from $150 million to $200 million and extending the maturity date to December 2028.

For 2025, consolidated copper production is projected to rise by 85% to 110%, reaching between 75,000 and 85,000 tonnes at C1 cash costs between $1.55 and $1.80 per pound. The Tucumã Operation is expected to achieve commercial production in the first half of 2025. Gold production at Xavantina is forecasted between 50,000 and 60,000 ounces, with C1 cash costs between $650 and $800 per ounce and all-in sustaining costs ranging from $1,400 to $1,600 per ounce.

Capital expenditures for 2025 are anticipated to decrease significantly to between $230 million and $270 million, focusing on the Pilar Mine's new external shaft construction and advancements at the Furnas Copper-Gold Project.

Looking ahead, Ero Copper expects consolidated copper production to reach 85,000 to 95,000 tonnes annually in 2026 and 2027. The Caraíba Operations' investments are set to enhance underground development and operating margins by 2027, while the Tucumã Operation is projected to maintain high production levels, supported by successful 2024 drilling results and optimized mill throughput.

Xavantina’s gold output is expected to remain steady at 50,000 to 60,000 ounces through 2027.

“2024 was a transformational year for the Company, marked by significant achievements across our operations and projects,” said Makko DeFilippo, President & CEO. “We expect 2025 to be a record year by any measure, with sustained higher production levels and strategic investments positioning us for long-term growth.”