BASE METALS

Ero Copper posts record 2019

Ero posts record 2019, more to come

Staff reporter
The mill at the MCSA mining complex in Brazil

The mill at the MCSA mining complex in Brazil

The company processed 2.4 million tonnes of ore grading 1.93% copper after metallurgical recoveries that averaged 90.5% during 2019.

The NX gold mine processed 158,275t grading 6.98 grams per tonne for 30,434oz gold and 19,641oz silver after metallurgical recoveries that averaged 85.7%.

The company reported net income of $91.9 million on revenues of $284.8 million with cash flow from operations of $127.8 million.

"2019 was a fantastic year for the company and the financial results highlight the extraordinary quality of our assets and people. Execution of our business plan over the past several years has continued to translate to significant year-on-year growth in production and profitability - a trend we see continuing with the support of our exploration programs underway both within and around our existing operations and regionally throughout the Curaçá Valley," said president and CEO David Strang.

Ero ended 2019 with cash, equivalents and available liquidity of $21.5 million, with $14 million undrawn on its secured, revolving credit facility in Canada, plus an additional R$64.8 million in available undrawn lines of credit in Brazil.

Shares in Ero Copper are trading at C$9.61, valuing the company at $824 million.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.