BASE METALS

Ero Copper hikes net income on output

Toronto and New York-listed miner Ero Copper posted adjusted net income of US$59.7 million in the fourth quarter of last year, up 60% from US$37.4 million a year earlier as its lifted copper production at its mines in Brazil by 19%.

Ero Copper lifts net income

Ero Copper lifts net income

The adjusted net income per share was US$0.65 on a diluted basis, up 62% from US$0.40 per share in the same quarter a year earlier.  

"The company [is] in a strong position to execute on initiatives targeting approximately 100,000 tonnes of annual copper production and 60,000 ounces of annual gold production by 2025," said chief executive David Strang. 

ASCI gold costs increased 50% to US$910 an ounce from US$608 an ounce over the same period. 

The firm stuck to guidance that ASCI costs would rise further to $925-$1,025 an ounce this year, based on a gold price of US$1,725 an ounce. 

Ero's copper production in the fourth quarter of last year totalled 11,918 tonnes, up 19% from 10,018 tonnes produced a year earlier. 

This was a result of increased mill throughput volumes related to the ramp-up of mining activity and processing of stockpiled ore at the Surubim open pit and the  return to higher mill capacity levels following the completion of  mill maintenance. 

Gold production fell 20% to 8,544 ounces from 10,789 ounces. 

Ero Copper's copper mining and development operations are located in north-eastern Brazil within the states of Bahia and Pará. 

Shares in Ero Copper on the Toronto Stock Exchange were quoted 1.48% or C$0.29 higher at C$19.88

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.