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Ero Copper Announces Inaugural PEA for Furnas, Outlines Low Capital Intensity Project with a 24-Year Initial Mine Life
(all amounts in US dollars and shown on a 100% Project basis, unless otherwise noted) VANCOUVER, British Columbia, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Ero Copper
About this update from Ero Copper Corp.
[{"type":"text","content":"(all amounts in US dollars and shown on a 100% Project basis, unless otherwise noted) VANCOUVER, British Columbia, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Ero Copper Corp. (TSX: ERO, NYSE: ERO) (\"Ero\" or the “Company”) is pleased to announce results of the Preliminary Economic Assessment (\"PEA\") on the Furnas Copper-Gold Project (\"Furnas\" or the \"Project\"), located in the Carajás Mineral Province in Pará State, Brazil. The PEA outlines the potential for a large-scale, long-life copper-gold operation with a robust production profile and exceptional economics, reinforcing Furnas as a cornerstone asset within the Company's organic growth pipeline. Furnas is being advanced in partnership with Vale Base Metals (\"VBM\") pursuant to an earn-in agreement wherein the Company will earn a 60% interest upon completion of the prescribed work programs.(1) HIGHLIGHTS 24-year initial mine life based on an updated mineral resource estimate that remains open to depth and laterally along strike. Average annual copper equivalent(2) production of approximately 108,000 tonnes over the first 15 years of operation, including approximately 70,000 tonnes of copper, 111,000 ounces of gold, and 532,000 ounces of silver per year. After-tax net present value (\"NPV\") (8%) of $2.0 billion and a 27.0% after-tax internal rate of return (\"IRR\") based on long-term copper, gold and silver prices of $4.60 per pound, $3,300 per ounce, and $40.00 per ounce, respectively. At $6.10 per pound copper and $5,550 per ounce gold, the Project's after-tax NPV (8%) more than doubles to $4.7 billion, with the after-tax IRR increasing to approximately 44.0%. Life-of-mine (\"LOM\") C1 cash costs(3) of approximately $0.30 per pound of copper produced, supported by significant gold and silver by-product credits. Initial capital expenditures of approximately $1.3 billion at low capital intensity of approximately $16,000 per copper equivalent(2) tonne. LOM production totaling over 1.2 million tonnes of copper and approximately 2.0 million and 9.0 million ounces of gold and silver, respectively. The Company is evaluating several opportunities with the potential to increase value, including ongoing exploration drilling, the addition of a magnetite recovery circuit to produce a high-grade magnetite concentrate as by-product, and a gravity pre-concentration stage to enhance gold re...