Canada’s Ero Copper reported record quarterly production of 12,638mt in the March quarter. Production rose by 19pc from the prior year and 26pc from the prior quarter.
Strong copper production was a result of solid operational performance which include higher grade ore at both Pilar and Vermelhos underground mine.
Copper concentrates sold in March ending quarter stood at 12,469mt, up by 20pc from the prior year and 21pc higher than the previous quarter. The company states that strong tailwinds building around a de-carbonized future which is heavily dependent on copper puts the company in a good position.
|March Qtr 2021||March Qtr 2020||Pc Change YoY||Dec Qtr 2020||Pc Change QoQ|
|Copper Production (mt)||12,638||10,657||19%||10,018||26%|
|Copper sold in concentrates (mt)||12,469||10,432||20%||10,265||21%|
Ero Copper’s revenues jumped up by 81pc to $122.5mn in the March quarter compared to the prior year. Net income stood at $32.1mn against a net loss of $53mn in the March quarter of 2020.
Ero Copper recently announced that the company has intersected new copper zone. Around 200 metered below the company’s Vermelhos mine Ero Copper intersected 13.8 meter grading 2.62pc copper.