Q4 2025 Ero Copper Corp Earnings Call Transcript
Key Points
- Ero Copper Corp (ERO) released a maiden preliminary economic analysis on the Furnas project, highlighting its potential to produce over 1.2 million tons of copper, 2 million ounces of gold, and 9 million ounces of silver over a 24-year mine life.
- The company achieved record copper concentrate sales and a 59% increase in gold ore sales, driving quarterly revenue to a record $320 million.
- Ero Copper Corp (ERO) plans to complete an additional 50,000 meters of exploration drilling in 2026, targeting high-grade mineralization extensions.
- The company is exiting a major investment cycle with increased cash generation capacity and declining capital requirements.
- Ero Copper Corp (ERO) reported a material improvement in its net debt leverage ratio, decreasing to 1.2 times at the end of Q4 from 1.9 times in Q3.
- The company experienced higher transportation, demurrage, and port costs at Tucuma, impacting C1 cash costs.
- Ero Copper Corp (ERO) faced an extended period of unplanned downtime in December due to a mill liner replacement, affecting production.
- The rainy season in Brazil is expected to result in very modest gold concentrate sales in Q1 2026.
- The company is dealing with headwinds from a strong Brazilian Real (BRL) against the US dollar, impacting costs.
- Ero Copper Corp (ERO) has not included potential benefits from additional tailings filtration equipment in its 2026 guidance, indicating uncertainty in operational improvements.
Thank you for standing by. This is the conference operator. Welcome to the Ero Copper Fourth Quarter 2025 Operating and Financial Results Conference Call. (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 Fourth Quarter and Full Year 2025 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 3 and 12 months ended December 31, 2025. Our 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 Chief Operating Officer; and Courtney Lynn,
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