Record Consolidated Copper Production
Ero Copper achieved record consolidated copper production in the second quarter, driven by improvements at Caraíba and Xavantina, and favorable metal prices contributing to strong financial performance.
Commercial Production at Tucumã
The company announced commercial production at Tucumã, with production levels reaching about 75% of design capacity in June, and improvements expected to continue.
Financial Improvements and Deleveraging
Adjusted EBITDA of $82.7 million and adjusted net income attributable to owners of $48.1 million. The net debt-to-EBITDA ratio reduced from 2.4x to 2.1x due to debt repayments and stronger EBITDA.
Operational Excellence Initiatives
Significant operational improvements were made, including a 50% reduction in unplanned downtime and a more than 10% improvement in mobile equipment fleet availability at Caraíba.
Gold Production Increase at Xavantina
Gold production increased by 17% compared to Q1, with mechanization efforts expected to further improve production volumes.
Positive Outlook for Future Performance
Revised guidance indicates expectations for sequential improvements in Q3 and Q4, with 2026 anticipated to be better than 2025.