Q3 2025 Ero Copper Corp Earnings Call Transcript
Key Points
- Ero Copper Corp (ERO) announced a maiden inferred resource of 24,000 tonnes grading approximately 37 grams per tonne, containing 29,000 ounces of gold at the Xavantina operations.
- The company achieved all-time record monthly production levels in October across all operations, including Caraíba, Tucumã, and Xavantina.
- Ero Copper Corp (ERO) reported a 24% increase in copper concentrate sales at Tucumã, contributing to a revenue increase to $177 million in Q3.
- The company is on track to significantly accelerate deleveraging, with a net debt leverage ratio improvement to 1.9 times by the end of Q3.
- Mechanization efforts at Xavantina have led to increased mining rates and improved safety, with October production reaching nearly 7,000 ounces of gold.
- Operating costs increased due to lower mined and processed grades at Caraíba and changes in accounting treatment at Tucumã.
- Inflationary pressures in Brazil are impacting labor and contractor costs, with less benefit from currency depreciation compared to previous years.
- The company adjusted its full-year C1 cash cost guidance at Tucumã due to higher-than-expected maintenance and freight costs.
- There is uncertainty regarding the remaining 80% of the gold concentrate stockpile at Xavantina, which has not yet been sampled.
- The company faces challenges in reaching design capacity at Tucumã, with additional filtration capacity needed to alleviate bottlenecks.
Thank you for standing by. This is the conference operator. Welcome to the Ero Copper third-quarter 2025 operating and financial results conference call (Operator Instructions) The conference is being recorded (Operator Instructions)
I would now like to turn the conference over to Farooq Hamed, VP, Investor Relations. Please go ahead.
Thank you, operator. Good morning, and welcome to Ero Copper's third-quarter earnings call. Our operating and financial results were released yesterday afternoon and are available on our website, along with our financial statements and MD&A for the three and nine months ended September 30, 2025. A corresponding earnings presentation can be downloaded directly from the webcast and is also available in the Presentations section of our website.
Joining me on the call today are Makko DeFilippo, President and Chief Executive Officer; Wayne Drier, Executive Vice President and Chief Financial Officer; Gelson Batista, Executive Vice President and
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