Ero Copper announces Q4 production results

Caraiba Operations: Throughput volumes increased 12.8% year-on-year to over 3.2 million tonnes, despite lower-than-expected processed tonnage in Q4 2023 due to mill downtime related to the integration of the expansion circuit; Processed copper grades and metallurgical recoveries were in-line with expectations, averaging 1.49% and 91.4%, respectively, for the year. Xavantina Operations: Processed gold grades increased 98.8% to average 15.13 gpt for the year, more than offsetting lower year-on-year mill throughput volumes. David Strang, Chief Executive Officer, said: “Our 2023 production performance reflects the strong execution of our organic growth strategy, highlighted by the successful completion of the NX 60 initiative, which resulted in a 39% year-on-year increase in gold production. Although the completion of the mill expansion project at our Caraiba Operations necessitated additional plant downtime, culminating in full-year copper production that slightly missed our expectations, this milestone is pivotal for supporting higher sustained ore production volumes from the Pilar Mine over the long term.”