Ero Copper Achieves Exceptional Growth with Maiden Economic Analysis on Furnas Project
TORONTO, ON - Ero Copper (TSX: ERP), a leading copper and gold producer in Brazil, has announced exceptional growth prospects following its maiden preliminary economic analysis on the Furnas project. The company's fourth quarter 2025 operating and financial results conference call revealed a significant milestone for Ero, solidifying its position as a long-term growth player.
According to Makko DeFilippo, President and Chief Executive Officer of Ero Copper, "We believe Ero is extremely well-positioned in the current market environment." The company's Furnas project has shown impressive results, with an integrated open pit and underground mine expected to produce over 1.2 million tons of copper, 2 million ounces of gold, and 9 million ounces of silver over a 24-year mine life.
Notably, the first 15 years of operation at Furnas are projected to yield approximately 70,000 tons of copper, 111,000 ounces of gold, and over 500,000 ounces of silver annually at a remarkably low C1 cash cost of $0.24 per pound of copper produced. This exceptional performance is reflected in the preliminary economic analysis (PEA), which delivers an after-tax net present value (NPV) of approximately $2 billion and an internal rate of return (IRR) of more than 27% on initial capital of $1.3 billion.
Ero Copper's Furnas project stands out from comparable projects due to its unique combination of low capital intensity and strong economic outcomes across a wide range of commodity prices. As DeFilippo noted, "We see an exceptional project that is both financeable and buildable."
In 2026, the company plans to continue advancing the Furnas project with additional exploration drilling, targeting extensions of high-grade mineralization around planned underground infrastructure. Ero will also pursue initiatives to further strengthen economics, including the addition of a magnetite recovery circuit and a gravity pre-concentration stage to enhance gold recoveries.
The company's strong growth prospects are complemented by its existing operations, which are expected to see declining capital spending as Ero transitions out of a multi-year investment phase. The announcement is a testament to Ero Copper's commitment to delivering long-term value for shareholders and solidifying its position in the Brazilian copper and gold market.
