Ero Copper Stock

Ero Copper Corp. (Ero) operates as a clean copper producer with operations in Brazil.

Ero’s principal asset is its approximately 99.6% ownership interest in Mineração Caraíba S.A. (MCSA). MCSA’s predominant activity is the production and sale of copper concentrate from the Caraíba Operations, located within the Curaçá Valley, northeastern Bahia State, Brazil, with gold and silver produced and sold as by-products. The Caraíba Operations consist of a fully integrated hub-and-spoke operating model, with current mining activities conducted at the Pilar underground mine, the Vermelhos underground mine, and the Surubim open pit mine feeding the central Caraíba Mill, a conventional crushing, grinding and flotation mill located adjacent to the Pilar underground mine.

In addition, MCSA holds a 100% interest in the Tucumã Project, a copper development project located within southeastern Pará State, Brazil. Ero also owns an approximately 97.6% ownership interest in NX Gold S.A. (NX Gold), held indirectly through its wholly-owned subsidiary, Ero Gold Corp. (Ero Gold). NX Gold’s predominant activity is the production and sale of gold from the Xavantina Operations, located in Mato Grosso State, Brazil, with silver produced as a by-product.

The Caraíba Operations, Xavantina Operations and the Tucumã Project are the mineral projects material to Ero for the purposes of NI 43-101. NX Gold is a Brazilian gold mining company which holds a 100% interest in the Xavantina Operations and is focused on the production and sale of gold as its main product and silver as its by-product. The Xavantina Operations is located approximately 18 kilometers west of the town of Nova Xavantina, in southeastern Mato Grosso State, Brazil.

The company’s principal product is copper produced and sold from the Caraíba Operations, with gold and silver produced and sold as by-products from the Caraíba Operations. Gold and, as a by-product, silver is also produced and sold from the Xavantina Operations. During the year ended December 31, 2022, the operations of the Caraíba Operations processed 2,864,230 tonnes of material, producing 46,371 tonnes of copper and the operations of the Xavantina Operations processed 189,743 tonnes of material, producing 42,669 ounces of gold.

MCSA sells its final copper concentrate, containing gold and silver as by-product metals, to various international trading companies and Paranapanema S.A. (Paranapanema). International trading companies ship the copper concentrate purchased from MCSA to smelters globally via the Barra dos Coqueiros port located in Barra dos Coqueiros, Sergipe State, Brazil. Paranapanema smelts MCSA’s copper concentrate into refined copper products at its smelter located in Dias D’Ávila, Bahia State, Brazil. All concentrate is transported from site to the port by road using standard highway trucks, which are weighed and sampled for final assay prior to shipment.

NX Gold produces and sells dore bars containing gold and silver to COIMPA Industrial Ltda. (COIMPA). The dore bars are transported to COIMPA’s facility in Manaus, State of Amazonas, Brazil by airplane using a secure gravel airstrip located on the Xavantina Operations.

History

Ero Copper Corp. was founded in 2016. The company was incorporated under the Business Corporations Act (British Columbia) in 2016.