Ero Copper Corporation(TSX:ERO)

Ero is a Brazil-focused, growth-oriented mining company with a diversified portfolio of copper and gold assets.

Investor website: https://www.ero.com/

About

Ero is a Brazil-focused, growth-oriented mining company with a diversified portfolio of copper and gold assets. Headquartered in Vancouver, B.C., the Company operates two copper mines-the Caraíba Operations in Bahia State and the Tucumã Operation in Pará State-as well as the Xavantina Operations, a producing gold mine in Mato Grosso State. Ero is advancing the Furnas Copper-Gold Project through a definitive earn-in agreement with Vale Base Metals to acquire a 60% interest in the project. The Company is committed to safety, operational excellence, and responsible mineral production. Ero's shares are publicly traded on the Toronto Stock Exchange and the New York Stock Exchange under the symbol 'ERO.'

Verified company data

Cash position
not discovered
Shares outstanding
104,277,968
Fully diluted shares
not discovered
Mineral resource
Updated Mineral Resource Estimate | **Category** | **Tonnes (Mt)** | **Grade** | **Contained Metal** | | --- | --- | --- | --- | | **Cu (%)** | **Au (g/t)** | **Ag (g/t)** | **CuEq(1) (%)** | **Cu (kt)** | **Au (koz)** | **Ag (koz)** | **CuEq(1) (kt)** | | --- | --- | --- | --- | --- | --- | --- | --- | | Open Pit | | **Indicated** | 272.2 | 0.59 | 0.31 | 1.66 | 0.83 | 1,594 | 2,748 | 14,546 | 2,252 | | **Inferred** | 117.1 | 0.51 | 0.31 | 1.24 | 0.75 | 601 | 1,160 | 4,662 | 876 | | Underground | | **Indicated** | 3.4 | 0.57 | 0.23 | 1.44 | 0.75 | 19 | 25 | 156 | 25 | | **Inferred** | 78.8 | 0.53 | 0.31 | 1.50 | 0.77 | 418 | 791 | 3,809 | 607 | | **Indicated** | **275.6** | **0.59** | **0.31** | **1.66** | **0.83** | **1,613** | **2,773** | **14,702** | **2,277** | | **Inferred** | **195.9** | **0.52** | **0.31** | **1.34** | **0.76** | **1,020** | **1,952** | **8,470** | **1,483** | _Note: See “Mineral Resources Notes” below and/or the Company’s press release dated February 23, 2026 for additional technical and scientific information. For more information on the Phase 1 drill program, please see the Company’s press releases dated July 10, 2025, and September 18, 2025._ 1. CuEq grade for the updated mineral resource estimate calculated as Cu grade + ((Au grade x 0.03215 x $2,500 gold price x 74.6% gold metallurgical recovery) + (Ag grade x 0.03215 x $24.00 silver price x 71.0% silver metallurgical recovery)) / (0.01 x $9,039/tonne copper price x 90.3% copper metallurgical recovery).
Projects
["Furnas Project\n\n- Overview\n- Reserves & Resources\n- Technical Report\n\n## Overview\n\nThe Furnas Copper-Gold Project is an iron oxide copper gold (IOCG) deposit located approximately 50 kilometers southeast of Vale Base Metals’ Salobo operations and about 190 kilometers northeast of the Tucumã Operation. The project covers roughly 2,400 hectares within the Carajás Mineral Province and sits less than fifteen kilometers from extensive regional infrastructure, including paved roads, an industrial-scale cement plant, a power substation, and Vale’s railroad loadout facility.1\n\nCurrently 100% owned by Vale Base Metals, Ero holds the right to earn a 60% interest through a staged earn-in agreement signed in July 2024.\n\nIn February 2026, Ero announced the results of an inaugural preliminary economic assessment (PEA) with strong underlying economics, supported by low capital intensity, first quartile operating costs and an attractive internal rate of return across a wide spectrum of commodity prices. The PEA contemplates the development of Furnas as a large-scale, long-life mining operation comprising four distinct operating areas, incorporating a series of selective open pits and two underground mines within the two primary high-grade zones of the deposit – the Southeast and Northwest Zones. Mine production from open pit and underground mines will feed a centralized processing facility with a design capacity of 13.5 million tonnes per annum. Conventional flotation will produce a copper concentrate with significant gold and silver by-product credits over an initial 24-year mine life.\n\nThe PEA is preliminary in nature and includes inferred mineral resources, which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.\n\nFor information on the Furnas earn-in agreement and PEA, please see the Company’s press releases dated October 30, 2023, July 22, 2024, and February 23, 2026.\n\n¹The proximity of the Furnas Copper-Gold Project to world class copper, iron ore and other mineral deposits is not indicative of the continuity, scale, or presence of economic mineralization.\n\n## Primary Commodities\n\nCopper and Gold\n\n## Ownership\n\nEarn-in agreement with Vale Base Metals to acquire a 60% interest in the project\n\n## Initial Mine Life:\n\n24 years\n\n## After-Tax Net Present Value (8%):\n\n$2.0 billion¹\n\n## After-Tax Internal Rate of Return:\n\n27.0%¹\n\n## Avg. Annual Copper Equivalent² Production:\n\n~108,000 tonnes (first 15 years) / ~81,000 (LOM)\n\n## Avg. C1 Cash Cost (per lb of copper produced):\n\n$0.24 (first 15 years) / $0.30 (LOM)\n\n1Based on long-term metal prices of $4.60/lb Cu, $3,300/oz Au, and $40.00/oz Ag.\n\n2Copper equivalent calculated using long-term metal prices of $4.60/lb Cu, $3,300/oz Au, and $40.00/oz Ag."]
Leadership
David Strang Executive Chairman Mr. Strang co-founded Ero Copper in May 2016 and currently serves as Executive Chairman, following his tenure as Chief Executive Officer and Director from 2016 to 2024. Before Ero Copper, he was President and CEO of Lumina Copper Corp., which was acquired by First Quantum Minerals Limited in August 2014. His executive leadership experience includes serving as President and CEO of Lumina Royalty Corp. (acquired by Franco-Nevada Corporation in 2011), Global Copper Corp. (acquired by Teck Resources in 2008), and Lumina Resources Corp. (acquired by Western Copper Corp. in 2006). Additionally, Mr. Strang held senior roles as President of Regalito Copper Corp. (acquired by Pan Pacific in 2006) and Vice President, Corporate Development of Northern Peru Copper Corp. (acquired by China Minmetals and Jiangxi Copper in 2008) and the original Lumina Copper Corp. Throughout his 30-year career in the mining sector, Mr. Strang has developed deep expertise in corporate and asset valuation. He holds a Bachelor of Science in Applied Earth Sciences from Stanford University. Makko DeFilippo President, Chief Executive Officer and Director Mr. DeFilippo is the President and Chief Executive Officer of Ero and serves on the Company’s Board of Directors. Since joining Ero in January 2017 as Vice President, Corporate Development, Mr. DeFilippo has been instrumental in advancing key strategic and operational initiatives that have shaped the Company’s growth. Mr. DeFilippo’s leadership was instrumental in the Company’s initial public offering in October 2017 as well as the transformation of the Xavantina Operations from a non-core asset into a high-margin, core asset of the business. He also led the successful negotiation and completion of the $110 million streaming transaction with Royal Gold Inc. and was integral in establishing a strategic partnership with Vale Base Metals on the Furnas Copper-Gold Project. Most recently, in his capacity as President and Chief Operating Officer, Mr. DeFilippo oversaw the construction of the Tucumã Operation, which was successfully completed on schedule in 2024. Mr. DeFilippo holds a M.Sc. in Metallurgical Engineering from the Colorado School of Mines and a B.Sc. in Geological Engineering from the University of Arizona. Gelson Batista Executive Vice President and Chief Operating Officer Mr. Batista currently serves as Executive Vice President and Chief Operating Officer of the Company. Mr. Batista joined the Company in September 2024 and served as SVP, Operations until December 2024. Mr. Batista brings over 25 years of extensive, multi-national mining experience to the Company. Throughout his career, Mr. Batista has held diverse technical, operational, and senior leadership roles at mining operations and development projects around the world. His career encompasses technical and project roles at Rio Tinto in Australia and London, as well as with leading engineering firms and technology companies in Canada and South America. Most recently, Mr. Batista served as ArcelorMittal’s Mining Chief Technology Officer, in London, responsible for leading technical services, global exploration and innovation across the group, and was then appointed to the role of Chief Operating Officer Mining and Executive Director for ArcelorMittal’s integrated mining and steel operations in Central Asia. Mr. Batista holds a degree in mining engineering from the Federal University of Ouro Preto in Minas Gerais. Wayne Drier Executive Vice President and Chief Financial Officer Mr. Drier currently serves as Executive Vice President and Chief Financial Officer of the Company. Mr. Drier is a seasoned finance executive with 25 years of financial reporting, corporate finance and capital markets experience within the global mining sector. He has worked across a wide range of commodities and jurisdictions and has been part of a number of significant M&A transactions. He has previously held senior executive roles at Asanko Gold Inc. (Executive, Corporate Development), Coalspur Mines Limited (Vice President, Strategy and Corporate Development), Mantra Resources Limited (Commercial Executive), Norilsk Nickel International (Head of Business Development) and BHP Billiton Limited (Vice President, Commercial). Mr. Drier holds an Honours Bachelor of Business Science degree from the University of Cape Town, South Africa. Eduardo De Come Executive Vice President, Brazil Mr. De Come currently serves as Executive Vice President, Brazil. He previously held the role of CFO of MCSA from 2013 to 2022. Mr. De Come has more than 30 years of experience in finance management. He has spent the last 17 years working for companies in the commodities sector including biofuels agribusiness and mining. Mr. De Come holds a bachelor in Economics and a Master Degree in Finance from Universidade de São Paulo – USP and a MBA from University of Manchester. Deepk Hundal Executive Vice President, General Counsel and Corporate Secretary Mr. Hundal currently serves as Executive Vice President, General Counsel and Corporate Secretary of the Company. He joined the Company in July 2017. Previous roles have included General Counsel of Retirement Concepts Seniors Services Ltd., one of the largest seniors’ care providers in western Canada, Vice-President, Legal of Elgin Mining Ltd. and Vice-President, Legal and Corporate Secretary of Aura Minerals Inc., which he joined in 2014, 2012 and 2007, respectively. Prior thereto, he worked with Fraser Milner Casgrain LLP (now Dentons LLP), a large national Canadian firm, in the areas of corporate, commercial, securities and mining law and for Borden Ladner Gervais LLP, a large national Canadian firm, in the area of corporate and commercial law. Courtney Lynn Executive Vice President, External Affairs and Strategy Ms. Lynn currently serves as Executive Vice President, External Affairs and Strategy of the Company. From August 2023 to February 2025, she served as Senior Vice President, Corporate Development, Investor Relations and Sustainability of the Company. Ms. Lynn previously served as Vice President & Treasurer at Kaiser Aluminum Corp. and as VP, Investor Relations & Treasurer at Coeur Mining, Inc. Prior to joining Coeur, Ms. Lynn worked in investment and corporate banking at Bear Stearns and JP Morgan, advising Metals & Mining clients on capital markets activities as well as mergers and acquisitions. Ms. Lynn has been a member of the LBMA Precious Metals Oversight Committee since 2017 and previously served as a member of the LBMA Silver Price Oversight Committee. Ms. Lynn holds Bachelor of Science degrees in Finance and Economics from New York University’s Stern School of Business.

Verified data last updated: 2026-06-29

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