Eastern Metals is a base and precious metals explorer with a high-quality asset portfolio located in some of Australia’s best known mineral provinces.
Eastern Metals’ core focus is on the advanced Home of Bullion deposit in the NT, which hosts a Resource of 3.1 million metric tons @ 2.9 percent copper-equivalent – and the Browns Reef zinc-lead-copper-silver deposit in the Cobar Basin of NSW, a world-class mineral jurisdiction.
With favorable supply and demand dynamics for copper and an advanced asset portfolio – Eastern Metals provides de-risked exposure to strategic metals and a compelling proposition for investors evaluating the strategic metals space.Eastern Metals (ASX:EMS) is an ASX-listed base and precious metals explorer with a portfolio of high-quality assets in some of Australia’s most resource-rich regions, with established production, transport and energy infrastructure.
With many centuries of intensive use, base and precious metals are well understood at every stage of the project lifecycle – from exploration to development, mining, processing and offtake – offering de-risked exposure to the energy thematic.
The company holds two projects: the Arunta Project in the Northern Territory (NT), and the Cobar Project in the Cobar Basin of New South Wales (NSW), a world-class mineral jurisdiction. The company’s main focus is on two advanced assets: the Home of Bullion deposit in the NT and the Browns Reef deposit in the Cobar Basin, both strategically located, with ready access to road, rail and energy infrastructure.
Eastern Metals is led by a board and management team with significant breadth and depth of experience in exploration, discovery, development and governance, and a strong track record in delivering value for shareholders.
The Arunta Project is located in the Northern Territory encompassing a land package of 539 sq km, and is strategically located between the Stuart Highway, the Adelaide-Darwin rail corridor, and the Amadeus gas pipeline, east of Barrow Creek in the NT. The northern project area comprises one deposit and two prospects – Home of Bullion, Mulbangas and Prospect D. The priority is on advancing the Home of Bullion copper deposit. Home of Bullion hosts an existing mineral resource estimate (MRE) of 3.1 million metric tons, grading at 2.9 percent copper equivalent for 89.9 metric kilotons of contained copper-equivalent metal.
Home of Bullion, from 1923 to 1949 produced 3,185 metric tons of ore at 22.5% copper. With an MRE in place for this deposit, there is potential for further increasing the resource base, especially as the deposit remains open along strike and at depth. Further field work, including IP surveys, mapping and field sampling programs will aim to generate drill-ready targets along the ~9 km magnetic trend between Home of Bullion and the Mulbangas prospect. This work is supported by a recent co-funding grant of up to $100,000 through the NT Government’s Geophysics and Drilling Collaborations Program.
The Cobar Project is situated 470 km west of Sydney, in New South Wales. It encompasses the company's Browns Reef tenement along with three exploration licenses – Tara, Bothrooney and Black Range – located in the southern Cobar Basin, a tier 1 mining jurisdiction for base metals exploration and production.
The project’s previous owner, Kidman Resources, defined a JORC 2012 exploration target for the Browns Reef deposit, based on 52 diamond drill holes and 22 RC holes, of 27 to 37 million metric tons grading between 1.3 to 1.4 percent zinc, 0.6 to 0.7 percent lead, 9 to 10 g/t silver and 0.2 to 0.3 percent copper. (The potential quantity and grade of this exploration Target are conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration will result in the determination of a mineral resource. Eastern Metals confirms that it is not in possession of any new information or data that materially impacts on the reliability of this estimate.)
Eastern Metals is currently advancing the Browns Reef deposit to identify areas where higher-grade zones of base metals mineralization may occur. The Evergreen and Pineview zones are targets for further exploration, where previous fieldwork programs identified new zones of anomalous base metal mineralization. These new zones, named Kelpie Hill and Windmill Dam, will be the primary focus of forthcoming exploration initiatives. IP surveys and drilling will investigate whether these areas constitute a continuous mineralization zone linking Pineview and Evergreen and potentially serving as a northern extension of Evergreen.
The Cobar Project is adjacent to Australian Gold and Copper’s (ASX:AGC) Achilles prospect which recently delivered spectacular gold and silver results.
Bob Duffin has over 45 years of experience in the mining industry. He has participated in exploration programs for a variety of commodities, including copper, other base metals, gold, uranium and iron ore. He began his career with the Geological Survey of New South Wales and held senior positions at Peko-Wallsend, MIM Holdings, Austirex International and Natquest. He has been a non-executive director of several listed companies, including Centennial Coal, Midwest Corporation, Ferrowest, Burmine, Austmin Gold, Mt Lyell, Europa Minerals Group and Mancala.
With over 25 years of experience in the resources sector in technical and corporate roles, Ley has worked across diverse commodities and jurisdictions, from greenfield exploration to resource definition and feasibility studies. Ley’s prior experience includes working for Western Mining Corporation, BHP and a number of juniors and mid-tiers overseeing greenfield projects through to resource definition and feasibility.
Jason is a geologist and company director who commenced his career as an exploration and mine geologist at the Plutonic Gold Mine in Western Australia, before moving to BHP in South Australia, where he worked on the Olympic Dam Mine expansion project. Previously, he also worked with SRK, an international firm of consulting geologists, and spent two years in private equity assessing resource investment opportunities. He is the Managing Director of PolarX, where he played a major role in negotiating the acquisition of key tenements in North America, and a former director of Estrella Resources. He is also a non-executive director of Lithium Plus.
Mark Dugmore is an experienced geologist and boasts significant experience in the mining sector, having served as director and advisor to several junior mining exploration companies. Since 2014, he has served as the managing director of the ROMARDO Group, a Brisbane-based private group specializing in generating early-stage exploration projects in precious metals, base metals and lithium. He spent 16 years working with BHP Minerals.
Ian White is an experienced corporate executive with experience in company administration, management and marketing. He has served on more than 20 boards as director or secretary, including several ASX-listed companies. Currently, he is the secretary of Maronan Metals (ASX:MMA) and was previously secretary for WPG Resources and Eastern Iron.
Ian is a member of Chartered Accountants Australia and New Zealand and the Governance Institute of Australia, with over 35 years of experience. Ian provides secretarial and advisory services to a range of companies, including holding the position of Company Secretary and CFO for other ASX-listed public companies.
Ero Copper Corp. (TSX: ERO, NYSE: ERO) (the "Company") will publish its third quarter 2024 operating and financial results on Tuesday, November 5, 2024 after market close. The Company will host a conference call to discuss the results on Wednesday, November 6, 2024 at 11:30am Eastern time (8:30am Pacific time).
CONFERENCE CALL DETAILS
| Date: | Wednesday, November 6, 2024 |
| Time: | 11:30am Eastern Time (8:30am Pacific Time) |
| Dial In: | Canada/USA Toll Free: 1-844-763-8274, International: +1-647-484-8814 Please dial in 5-10 minutes prior to the start of the call or pre-register using this link to bypass the live operator queue |
| Webcast: | To access the webcast, click here |
| Replay: | Canada/USA Toll Free: 1-855-669-9658, International: +1-412-317-0088 For country-specific dial-in numbers, click here |
| Replay Passcode: | 1437453 |
ABOUT ERO COPPER CORP
Ero is a high-margin, high-growth, low carbon-intensity copper producer with operations in Brazil and corporate headquarters in Vancouver, B.C. The Company's primary asset is a 99.6% interest in the Brazilian copper mining company, Mineração Caraíba S.A. ("MCSA"), 100% owner of the Company's Caraíba Operations (formerly known as the MCSA Mining Complex), which are located in the Curaçá Valley, Bahia State, Brazil and include the Pilar and Vermelhos underground mines and the Surubim open pit mine, and the Tucumã Operation (formerly known as Boa Esperança), an open pit copper mine located in Pará, Brazil. The Company also owns 97.6% of NX Gold S.A. ("NX Gold") which owns the Xavantina Operations (formerly known as the NX Gold Mine), comprised of an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the Company and its operations, including technical reports on the Caraíba Operations, Xavantina Operations and Tucumã Operation, can be found on SEDAR+ ( www.sedarplus.ca/landingpage/) and on EDGAR ( www.sec.gov). The Company's shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol "ERO".
FOR MORE INFORMATION, PLEASE CONTACT
Courtney Lynn, SVP, Corporate Development, Investor Relations & Sustainability (604) 335-7504
info@erocopper.com
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Hudbay Minerals Inc. ("Hudbay" or the "company") (TSX, NYSE: HBM) today announced that it has reached a final settlement with all plaintiffs in three civil lawsuits brought against the company regarding alleged actions that occurred in Guatemala in 2007 and 2009. This settlement concludes all outstanding legal matters related to Hudbay's former activities in Guatemala. Hudbay was named in the civil suits because of its ownership of the Fenix nickel project, which was acquired in 2008. In one of the lawsuits, brought by 11 female plaintiffs, the allegations against the Guatemalan company that owns the project predate Hudbay's ownership. In 2011, Hudbay divested itself of its holdings in Guatemala and has had no operations there since that time.
"Hudbay is pleased to have reached a mutually agreed settlement that covers all three cases against the company. These matters have been outstanding for more than a decade, and the Board and management at Hudbay are pleased to bring them to a conclusion," said Peter Kukielski, Hudbay's President and Chief Executive Officer. "In doing so, we recognized the difficult economic and social circumstances of the plaintiffs and we are thankful for a constructive resolution with the plaintiffs and their counsel."
The terms agreed with the plaintiffs confirm the settlement is without admission of liability and the parties continue to have fundamentally differing views on the facts underlying the allegations, including the allegations of misconduct by Hudbay's subsidiaries.
Hudbay is proud to be a responsible member of the communities in which its people work and live and seeks ways to play a constructive role through its operations. Hudbay's Human Rights Policy, approved and overseen by Hudbay's Board of Directors, includes commitments to constructive and mutually beneficial engagement with local communities, and security practices that respect human rights. These commitments are reinforced through the company's adoption of the Mining Association of Canada's Towards Sustainable Mining program, and the United Nations' Voluntary Principles on Security and Human Rights at all of its mines.
About Hudbay
Hudbay (TSX, NYSE: HBM) is a copper-focused mining company with three long-life operations and a world-class pipeline of copper growth projects in tier-one mining-friendly jurisdictions of Canada, Peru and the United States.
Hudbay's operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada) and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the company, which is complemented by meaningful gold production. Hudbay's growth pipeline includes the Copper World project in Arizona (United States), the Mason project in Nevada (United States), the Llaguen project in La Libertad (Peru) and several expansion and exploration opportunities near its existing operations.
The value Hudbay creates and the impact it has is embodied in its purpose statement: "We care about our people, our communities and our planet. Hudbay provides the metals the world needs. We work sustainably, transform lives and create better futures for communities." Hudbay's mission is to create sustainable value and strong returns by leveraging its core strengths in community relations, focused exploration, mine development and efficient operations.
For further information, please contact:
Candace Brûlé
Vice President, Investor Relations
(416) 814-4387
investor.relations@hudbay.com
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Ero Copper Corp. (TSX: ERO, NYSE: ERO) ("Ero" or the "Company") announces that its Tucumã Operation has experienced a temporary power disruption following a severe localized windstorm that occurred in the southwest region of the Carajás Mineral Province in Pará State, Brazil on October 5, 2024. The Company's workforce is safe, and there has been no damage to infrastructure at the Tucumã Operation.
The regional power grid, including the main 230kV transmission line servicing the region, sustained damage during the storm, resulting in a loss of power to more than 200,000 residents as well as major industrial users. Power has since been fully restored to residential communities and partially restored to industrial consumers. The owner and operator of the transmission line has advised that full power restoration to industrial consumers, including the Company's Tucumã Operation, is expected within two weeks.
The power disruption at Tucumã has impacted the milling, flotation and filtration circuits within the processing plant. Mining and crushing operations remain unaffected, with ore continuing to be placed on the run-of-mine and crushed ore stockpiles. The Company expects the primary impact will be on the ramp-up schedule of the processing plant, and in turn, full-year production results at the Tucumã Operation. While the extent of the impact will depend on the timing of full power restoration, Ero Copper remains well-positioned to manage this temporary disruption and will provide further updates as the situation develops.
ABOUT ERO COPPER CORP
Ero is a high-margin, high-growth, low carbon-intensity copper producer with operations in Brazil and corporate headquarters in Vancouver, B.C. The Company's primary asset is a 99.6% interest in the Brazilian copper mining company, Mineração Caraíba S.A. ("MCSA"), 100% owner of the Company's Caraíba Operations (formerly known as the MCSA Mining Complex), which are located in the Curaçá Valley, Bahia State, Brazil and include the Pilar and Vermelhos underground mines and the Surubim open pit mine, and the Tucumã Operation (formerly known as Boa Esperança), an open pit copper mine located in Pará, Brazil. The Company also owns 97.6% of NX Gold S.A. ("NX Gold") which owns the Xavantina Operations (formerly known as the NX Gold Mine), comprised of an operating gold and silver mine located in Mato Grosso, Brazil. Additional information on the Company and its operations, including technical reports on the Caraíba Operations, Xavantina Operations and Tucumã Operation, can be found on SEDAR+ ( www.sedarplus.ca/landingpage/) and on EDGAR ( www.sec.gov). The Company's shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol "ERO".
FOR MORE INFORMATION, PLEASE CONTACT
Courtney Lynn, SVP, Corporate Development, Investor Relations & Sustainability (604) 335-7504
info@erocopper.com
CAUTION REGARDING FORWARD LOOKING INFORMATION AND STATEMENTS
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). Forward-looking statements include statements that use forward-looking terminology such as "may", "could", "would", "will", "should", "intend", "target", "plan", "expect", "budget", "estimate", "forecast", "schedule", "anticipate", "believe", "continue", "potential", "view" or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Forward-looking statements may include, but are not limited to, statements with respect to the expected restoration of power and the restart of the processing plant at the Tucumã Operation; the Company's ability to manage the impact of the power disruption to the commissioning timeline at the Tucumã Operation and to its full-year production results; and any other statement that may predict, forecast, indicate or imply future plans, intentions, levels of activity, results, performance or achievements.
Forward-looking statements are not a guarantee of future performance. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve statements about the future and are inherently uncertain, and the Company's actual results, achievements or other future events or conditions may differ materially from those reflected in the forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to herein and in the Company's most recent Annual Information Form under the heading "Risk Factors".
The Company's forward-looking statements are based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond the Company's control. In connection with the forward-looking statements contained in this press release and in the AIF, the Company has made certain assumptions about, among other things: continued effectiveness of the measures taken by the Company to mitigate the possible impact of COVID-19 on its workforce and operations; favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the production, development and exploration of the Company's properties and assets; future prices of copper, gold and other metal prices; the timing and results of exploration and drilling programs; the accuracy of any mineral reserve and mineral resource estimates; the geology of the Caraíba Operations, the Xavantina Operations and the Tucumã Project being as described in the respective technical report for each property; production costs; the accuracy of budgeted exploration, development and construction costs and expenditures; the price of other commodities such as fuel; future currency exchange rates and interest rates; operating conditions being favourable such that the Company is able to operate in a safe, efficient and effective manner; work force continuing to remain healthy in the face of prevailing epidemics, pandemics or other health risks (including COVID-19), political and regulatory stability; the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms; obtaining required renewals for existing approvals, licenses and permits on favourable terms; requirements under applicable laws; sustained labour stability; stability in financial and capital goods markets; availability of equipment; positive relations with local groups and the Company's ability to meet its obligations under its agreements with such groups; and satisfying the terms and conditions of the Company's current loan arrangements. Although the Company believes that the assumptions inherent in forward-looking statements are reasonable as of the date of this press release, these assumptions are subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws.
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