ERO - Ero Copper tops full-year records for copper gold production

Ero Copper ( NYSE: ERO ) said Wednesday it achieved record full-year copper and gold production in 2022, with its Caraíba operations in Brazil producing 46,371 metric tons of copper in concentrate, topping full-year guidance of 43K-46K0 tons, and the Xavantina operations in Brazil producing 42,669 oz of gold, above guidance of 39K-42K oz.

The company said record full-year production at Caraíba was driven by a strong Q4 totaling 12,664 metric tons of copper in concentrate, and record Q4 output at Xavantina of 11,786 oz of gold was driven by higher processed gold grades.

For FY 2023, Ero Copper ( ERO ) expects Caraíba will produce 44K-47K metric tons of copper in concentrate, while Xavantina is guided for production of 50K-53K oz of gold; full-year capital spending including consolidated exploration programs is forecast at $342M-$389M.

The company said it expects to provide an updated five-year outlook in Q1 upon completion of ongoing Project Honeypot optimization work at the Caraiba operations to reflect newly identified mineralization and ongoing development and sequencing efforts.

Ero Copper ( ERO ) has one of the highest overhead costs per produced pound of copper in the sector, The Investment Doctor writes in an analysis published on Seeking Alpha .

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