Business
Ero Copper produces 30,426 tonnes of copper in 2018 and provides 2019 production outlook
VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Ero Copper Corp. (“Ero” or the “Company”) (TSX: ERO) is pleased to announce the production result
About this update from Ero Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Ero Copper Corp. (“Ero” or the “Company”) (TSX: ERO) is pleased to announce the production results for the three and twelve month period ended December 31, 2018 for its 99.6% owned Vale do Curaçá Property located in Bahia State, Brazil. The financial results for the full year and fourth quarter of 2018 will be published on Thursday, March 14, 2019 after the close of the Toronto Stock Exchange. 2018 Production Highlights: Total annual copper production of 30,426 tonnes compared to 20,133 tonnes produced in 2017, a 51% year-on-year increase in production, and exceeding original 2018 production guidance by 15%; Fourth quarter copper production of 12,104 tonnes of copper, a 55% quarter-on-quarter increase in production; and, Total annual gold and silver production at the Company’s 97.6% owned NX Gold Mine of 39,808 ounces gold and 24,573 ounces silver. 2019 Outlook Highlights: Annual copper production guidance of 36,000 to 38,000 tonnes; C1 Cash Cost guidance of US$1.00 to US$1.10 per pound of copper produced at USD:BRL foreign exchange rate of 3.70; Capital expenditure guidance of US$62.0 million; An additional US$20 million to fund the 2019 exploration program. The program is highlighted by 130,000 meters of planned exploration drilling, comprised of 112,500 meters of near-mine exploration drilling (including continued exploration of the Vermelhos East Zone and Pilar West Limb), plus an additional 17,500 meters of planned greenfields exploration drilling to test high-priority regional exploration targets identified during the Company’s airborne geophysical survey. Commenting on the 2018 production results and 2019 outlook, David Strang, President & CEO of Ero stated, “Our strategy for 2018 was to secure a long-term foundational copper production base for the operations in the Curaçá Valley. With the ahead-of-schedule commissioning of the Vermelhos Mine in August, and consistent month on month production from the Pilar Mine, the Company has achieved that goal. In addition, the mill throughput of 777,480 tonnes in the fourth quarter, an annualized equivalent throughput of 3.1 million tonnes, demonstrates that the mill is capable of operating consistently at its current deemed capacity limits of approximately 3.2 million tonnes per annum...