The company reported total annual copper production of 30,426 tonnes compared to 20,133 tonnes produced in 2017, a 51 percent year-on-year increase in production.
Ero Copper (TSX:ERO) has announced the production results for the three and twelve month period ended December 31, 2018 for its 99.6 percent owned Vale do Curaçá Property located in Bahia State, Brazil.
2018 production highlights:
- Total annual copper production of 30,426 tonnes compared to 20,133 tonnes produced in 2017, a 51 percent year-on-year increase in production, and exceeding original 2018 production guidance by 15% percent
- Fourth quarter copper production of 12,104 tonnes of copper, a 55 percent quarter-on-quarter increase in production
- Total annual gold and silver production at the company’s 97.6 percent 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.