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Highlights

  • Net income for Q2 FY2025 was USD 70.5 million, or USD 0.68 per diluted share.
  • Consolidated copper production hit a record 15,513 tonnes, driven by Tucumã ramp-up and Caraíba growth.
  • Tucumã achieved commercial production status effective July 1, 2025, after a 25% output increase.

Ero Copper Corp. (NYSE: ERO) reported its financial and operational results for the quarter ended June 30, 2025, with net income attributable to shareholders of USD 70.5 million, or USD 0.68 per diluted share. Adjusted net income was USD 48.1 million, while adjusted EBITDA stood at USD 82.7 million. The quarter was marked by record copper output and increased gold production.

Available liquidity at quarter-end totaled USD 113.3 million, including USD 68.3 million in cash and equivalents and USD 45.0 million of undrawn credit. The company reaffirmed full-year production and capital guidance, with updated expectations for the Tucumã and Xavantina operations.

About the company: Ero Copper operates the Caraíba, Tucumã, and Xavantina mining operations in Brazil. It focuses on copper and gold production and exploration, with ongoing expansion and optimization initiatives across all sites.

Copper production for the quarter reached 15,513 tonnes—9,162 tonnes from the Caraíba Operations at a C1 cash cost of USD 2.07 per pound, and 6,351 tonnes from the Tucumã Operation, which increased output by 25% from the prior quarter. Commercial production was declared at Tucumã effective July 1, 2025.

Gold production from Xavantina totaled 7,743 ounces, up 17% quarter-on-quarter, with C1 cash cost and AISC of USD 1,115 and USD 2,234 per ounce, respectively. Production guidance for Xavantina has been updated to 40,000 to 50,000 ounces for 2025 due to lower output in the first half.

The company completed 18,000 meters of drilling at the Furnas Project and finished its Phase 1 program ahead of schedule. Phase 2 drilling is underway with eight rigs on site, targeting completion by year-end 2025.

Consolidated copper production guidance for 2025 has been revised to 67,500 to 80,000 tonnes. H2 output is expected to rise with improved throughput at Tucumã and increased mining activity at Caraíba’s Pilar and Surubim areas.