Ero Copper (ERO) Capital Expenditures by Segment

Shows how Ero Copper allocates spending across mining, processing, and development projects, revealing where management is investing to grow production, sustain existing operations, or reduce costs—key for judging future output and capital intensity.

Ero is visibly shifting capex away from the Tucumã build‑out (now largely complete) toward Xavantina and corporate projects — consistent with management’s note that a new power line and mechanization work at Xavantina explain higher near‑term spend and underpin the H2 production ramp. Caraíba remains a steady, ongoing spend item with some timing risk on the shaft. This reallocation should drive higher H2 output and lower unit costs long term, but FX/inflation and the recent capex bump increase near‑term cash needs despite hedge protection and stronger free cash flow.