Ero Copper: A Small Producer Facing The Rising Capital Intensity Of The Copper Business

2025-07-26 05:09:11 ET

Portfolio Overview

After researching Solaris Resources ( SLSR ) and its flagship Warintza copper project in Ecuador, I am now turning my attention to a small copper and gold producer named Ero Copper ( ERO ) . The company is expected to produce between 75,000 and 85,000 tonnes of copper in 2025 from its two flagship copper assets, the Caraíba and Tucumã mines, both located in Brazil. Despite both assets having an almost identical production profile, the Tucumã Mine stands out for its low production costs, which are expected to average ~$1.15 per pound in 2025. With copper prices approaching $6.00 per pound, we are talking about pretty healthy margins here....

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