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Ero Copper Corporation

TSX:EROLive AI agent

Ero is a Brazil-focused, growth-oriented mining company with a diversified portfolio of copper and gold assets.

Investor website: https://www.ero.com/

About

Ero is a Brazil-focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines—the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State—as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. Ero is advancing the Furnas Copper-Gold Project through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project. The Company is committed to safety, operational excellence, and responsible mineral production. Ero's shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol 'ERO.'

Verified company data

Cash position
not discovered
Shares outstanding
104,277,968
Fully diluted shares
not discovered
Mineral resource
Updated Mineral Resource Estimate | **Category** | **Tonnes (Mt)** | **Grade** | **Contained Metal** | | --- | --- | --- | --- | | **Cu (%)** | **Au (g/t)** | **Ag (g/t)** | **CuEq(1) (%)** | **Cu (kt)** | **Au (koz)** | **Ag (koz)** | **CuEq(1) (kt)** | | --- | --- | --- | --- | --- | --- | --- | --- | | Open Pit | | **Indicated** | 272.2 | 0.59 | 0.31 | 1.66 | 0.83 | 1,594 | 2,748 | 14,546 | 2,252 | | **Inferred** | 117.1 | 0.51 | 0.31 | 1.24 | 0.75 | 601 | 1,160 | 4,662 | 876 | | Underground | | **Indicated** | 3.4 | 0.57 | 0.23 | 1.44 | 0.75 | 19 | 25 | 156 | 25 | | **Inferred** | 78.8 | 0.53 | 0.31 | 1.50 | 0.77 | 418 | 791 | 3,809 | 607 | | **Indicated** | **275.6** | **0.59** | **0.31** | **1.66** | **0.83** | **1,613** | **2,773** | **14,702** | **2,277** | | **Inferred** | **195.9** | **0.52** | **0.31** | **1.34** | **0.76** | **1,020** | **1,952** | **8,470** | **1,483** | _Note: See “Mineral Resources Notes” below and/or the Company’s press release dated February 23, 2026 for additional technical and scientific information. For more information on the Phase 1 drill program, please see the Company’s press releases dated July 10, 2025, and September 18, 2025._ 1. CuEq grade for the updated mineral resource estimate calculated as Cu grade + ((Au grade x 0.03215 x $2,500 gold price x 74.6% gold metallurgical recovery) + (Ag grade x 0.03215 x $24.00 silver price x 71.0% silver metallurgical recovery)) / (0.01 x $9,039/tonne copper price x 90.3% copper metallurgical recovery).
Projects
["Furnas Project\n\n- Overview\n- Reserves & Resources\n- Technical Report\n\n## Overview\n\nThe Furnas Copper-Gold Project is an iron oxide copper gold (IOCG) deposit located approximately 50 kilometers southeast of Vale Base Metals’ Salobo operations and about 190 kilometers northeast of the Tucumã Operation. The project covers roughly 2,400 hectares within the Carajás Mineral Province and sits less than fifteen kilometers from extensive regional infrastructure, including paved roads, an industrial-scale cement plant, a power substation, and Vale’s railroad loadout facility.1\n\nCurrently 100% owned by Vale Base Metals, Ero holds the right to earn a 60% interest through a staged earn-in agreement signed in July 2024.\n\nIn February 2026, Ero announced the results of an inaugural preliminary economic assessment (PEA) with strong underlying economics, supported by low capital intensity, first quartile operating costs and an attractive internal rate of return across a wide spectrum of commodity prices. The PEA contemplates the development of Furnas as a large-scale, long-life mining operation comprising four distinct operating areas, incorporating a series of selective open pits and two underground mines within the two primary high-grade zones of the deposit – the Southeast and Northwest Zones. Mine production from open pit and underground mines will feed a centralized processing facility with a design capacity of 13.5 million tonnes per annum. Conventional flotation will produce a copper concentrate with significant gold and silver by-product credits over an initial 24-year mine life.\n\nThe PEA is preliminary in nature and includes inferred mineral resources, which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.\n\nFor information on the Furnas earn-in agreement and PEA, please see the Company’s press releases dated October 30, 2023, July 22, 2024, and February 23, 2026.\n\n¹The proximity of the Furnas Copper-Gold Project to world class copper, iron ore and other mineral deposits is not indicative of the continuity, scale, or presence of economic mineralization.\n\n## Primary Commodities\n\nCopper and Gold\n\n## Ownership\n\nEarn-in agreement with Vale Base Metals to acquire a 60% interest in the project\n\n## Initial Mine Life:\n\n24 years\n\n## After-Tax Net Present Value (8%):\n\n$2.0 billion¹\n\n## After-Tax Internal Rate of Return:\n\n27.0%¹\n\n## Avg. Annual Copper Equivalent² Production:\n\n~108,000 tonnes (first 15 years) / ~81,000 (LOM)\n\n## Avg. C1 Cash Cost (per lb of copper produced):\n\n$0.24 (first 15 years) / $0.30 (LOM)\n\n1Based on long-term metal prices of $4.60/lb Cu, $3,300/oz Au, and $40.00/oz Ag.\n\n2Copper equivalent calculated using long-term metal prices of $4.60/lb Cu, $3,300/oz Au, and $40.00/oz Ag."]
Leadership
David Strang (Executive Chairman), Makko DeFilippo (President, Chief Executive Officer and Director), Gelson Batista (Executive Vice President and Chief Operating Officer), Wayne Drier (Executive Vice President and Chief Financial Officer), Eduardo De Come (Executive Vice President, Brazil), Deepk Hundal (Executive Vice President, General Counsel and Corporate Secretary), Courtney Lynn (Executive Vice President, External Affairs and Strategy)

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