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Ero Copper Announces 2021 Production Guidance Beat and Provides 5-Year Outlook
(all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero”
About this update from Ero Copper Corp.
[{"type":"text","content":" (all amounts in US dollars, unless otherwise noted) VANCOUVER, British Columbia, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or the “Company”) is pleased to announce its 2021 production results, 2022 guidance and a five-year operating outlook through 2026. HIGHLIGHTS Record Copper Production Result for 2021 At the MCSA Mining Complex, total production for 2021 was 45,511 tonnes of copper in concentrate, surpassing the high-end of full-year guidance of 42,000 to 45,000 tonnes; and, At the NX Gold Mine, total production for 2021 was 37,798 ounces of gold, surpassing high-end of full-year guidance of 34,500 to 37,500 ounces of gold. Updated mineral reserve estimate for Deepening Extension Zone enables the creation of a two-mine system at the Pilar Mine with redesigned larger external shaft The creation of a two-mine system at the Pilar Mine, known as \"Pilar 3.0\", whereby the upper levels of the mine will be serviced by the existing shaft, while the Deepening Extension Zone will utilize the new, larger external shaft, expected to result in significant growth in total production from the mine; Annual ore production from the Pilar Mine is now forecast to achieve approximately 3.0 million tonnes by 2026 versus the current production rate of approximately 1.3 million tonnes. From 2027 onwards, annual ore production is expected to range from 2.6 million to 3.0 million tonnes; and, Pilar 3.0 results in the deferral of capital related to the construction of higher operating cost ore- sorting projects at N8/N9 and Siriema. 2022 Production, Cost and Capital Expenditure Guidance 2022 MCSA Mining Complex production guidance of 43,000 to 46,000 tonnes of copper in concentrate at a C1 cash cost guidance range of $1.05 to $1.15 per pound of copper produced; 2022 NX Gold Mine production guidance of 39,000 to 42,000 ounces of gold at C1 cash cost and all-in sustaining (\"AISC\") guidance ranges of $500 to $600 and $925 to $1,025 per ounce of gold produced, respectively; and, Capital expenditures expected to total $330 to $375 million in 2022, including $39 to $46 million in consolidated exploration spend and $70 to $80 million towards the construction of the Boa Esperança Project expected to commence in Q2 2022, subject to approval by the Board of Directors of the Company. Also re...