Ero Copper Corp.
Ero Copper Corp. (TSX/NYSE: ERO) is a Brazil-focused mid-tier miner producing copper concentrate from the Caraíba and Tucumã operations and gold doré from Xavantina, with the Furnas copper-gold project advancing under a Vale Base Metals earn-in.
- Company typePublic
- Founded2016
- HeadquartersVancouver, Canada
- Headcount—
- GTM typeB2B
- OfferingHardware or Manufacturing
What Ero Copper Corp. does
Ero Copper Corp. is a Canada-incorporated, Brazil-focused mining company (TSX/NYSE: ERO) that produces copper concentrate and gold doré from three operating assets in Brazil: the Caraíba copper complex in Bahia State (Pilar and Vermelhos underground mines plus the Surubim open pit, processed through the on-site Caraíba Mill at ~4.2 Mtpa), the Tucumã open-pit copper-gold IOCG operation in Pará State (4.0 Mtpa), and the Xavantina high-grade underground gold mine in Mato Grosso State. Ore is processed using conventional crushing, grinding, flotation, gravity concentration, intensive leaching, and carbon-in-leach (CIL) circuits, producing copper concentrate for sale to international traders supplying smelters primarily in Asia and Europe, and gold doré bars sold to COIMPA Industrial Ltda. (part of the Umicore Group) in Brazil.
The company's revenue model is commodity-driven and transaction-based: realized pricing follows LME copper and spot gold prices, with production costs disclosed through C1 cash cost and All-in Sustaining Cost (AISC) metrics (2025: Caraíba C1 $2.22/lb, Tucumã H2 2025 C1 $1.69/lb, Xavantina C1 $976/oz and AISC $2,082/oz). Ero also has a financial counterparty relationship with RGLD Gold AG (a Royal Gold subsidiary), which holds a gold stream on Xavantina paying 20-40% of spot gold for delivered ounces. Beyond the three producing mines, Ero is advancing the Furnas Copper-Gold Project in the Carajás Mineral Province through a five-year staged earn-in agreement with Vale Base Metals, targeting a 60% interest; an inaugural PEA in February 2026 indicated a $2.0 billion after-tax NPV (8%), 27.0% IRR, and potential ~108,000 tonnes CuEq annual production over a 24-year mine life.
Ero Copper Corp. firmographics
Firmographics- Name
- Ero Copper Corp.
- Legal name
- Ero Copper Corp.
- Website
- https://ero.com
- Company type
- Public
- Founded year
- 2016
- Operating status
- Operating
- Short description
- Ero Copper Corp. (TSX/NYSE: ERO) is a Brazil-focused mid-tier miner producing copper concentrate from the Caraíba and Tucumã operations and gold doré from Xavantina, with the Furnas copper-gold project advancing under a Vale Base Metals earn-in.
- Ownership category
- akta.pro rank
Ero Copper Corp. industry classification
Industry- Product category
- Copper and Gold Mining
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Gold Ore and Silver Ore Mining (21222)
- SIC
- Miscellaneous Metal Ores (1090), Gold And Silver Ores (1040)
- akta.pro primary industry
- Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)
- akta.pro secondary industries
- Copper Concentration (Crushing, Grinding, Flotation) (IMAKADAC), Copper By-Products Recovery (Molybdenum, Gold/Silver, Sulfuric Acid) (IMAKADAH), Copper Exploration & Resource Development (IMAKADAA)
Keywords
Where Ero Copper Corp. is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Ero Copper Corp. business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D
Revenue model
- Copper Concentrate Sales: Ero produces high-grade copper concentrate at Caraíba and Tucumã operations. Concentrate is sold to international traders who supply customers worldwide, primarily in Asia and Europe. First commercial copper concentrate from Tucumã was produced in July 2024, with commercial production achieved on July 1, 2025.
- Gold Doré Bar Sales: Xavantina Operations produce high-quality gold doré bars containing gold and silver, which are sold to COIMPA Industrial Ltda., a Brazilian refiner part of the Umicore Group, which exports most gold to Germany.
- Gold Stream Arrangement: RGLD Gold AG (Royal Gold subsidiary) has a gold stream on Xavantina Operations. Ero receives upfront payments ($110M initial + $50M extension) and ongoing payments at 20-40% of spot gold price for gold delivered.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
Ero Copper Corp. product offering
Product offeringCore offering
Ero Copper Corp. is a Brazil-focused mining company that extracts and processes copper ore into copper concentrate at its Caraíba (Bahia) and Tucumã (Pará) operations, and produces gold doré bars from its Xavantina (Mato Grosso) underground mine. Copper concentrate is sold to international traders supplying smelters in Asia and Europe, while gold doré is sold to COIMPA Industrial Ltda. (Umicore Group) for refining. The company is also advancing the Furnas Copper-Gold Project in the Carajás Mineral Province under an earn-in agreement with Vale Base Metals.
Product overview
Ero Copper Corp. is a Brazil-focused mining company operating two copper mines (Caraíba in Bahia State and Tucumã in Pará State) and one gold mine (Xavantina in Mato Grosso State), plus advancing the Furnas Copper-Gold Project in Pará. The company operates integrated mining and processing complexes that produce copper concentrate and gold doré bars sold to international smelters and refiners. Operations include underground and open-pit mining with conventional crushing, flotation, and processing facilities.
Differentiator
Problem solved
Functional benefit
Brands
- Caraíba Operations: Copper mining and processing complex located in Bahia State, Brazil, including Pilar and Vermelhos underground mines and Surubim open pit mine
- Tucumã Operation
- Xavantina Operations
- Furnas Project
Products and services
- Caraíba Operations Fully integrated copper mining and processing complex in northeastern Bahia State, Brazil, comprising the Pilar and Vermelhos underground mines and the Surubim open pit mine. Ore is processed using conventional crushing and flotation at the Caraíba Mill with approximately 4.2 million tonnes per annum throughput capacity.
- Tucumã Operation Open-pit iron oxide copper-gold (IOCG) deposit in Pará State within the world-class Carajás Mineral Province. Processes ore at the only copper sulfide processing facility in western Carajás with 4.0 million tonnes annual capacity using conventional three-stage crushing, ball mill comminution and flotation.
- Xavantina Operations High-grade, narrow-vein underground gold mine in southeastern Mato Grosso State with on-site processing facility. Produces high-quality gold doré bars through gravity concentration, intensive leaching, flotation, and carbon-in-leach processes, plus gold concentrate sales commencing in Q4 2025.
- Furnas Copper-Gold Project Advanced-stage IOCG copper-gold deposit in the Carajás Mineral Province, Pará State. Ero holds rights to acquire 60% interest through a staged earn-in agreement with Vale Base Metals, with PEA contemplating a 24-year mine life producing ~108,000 tonnes copper equivalent annually in the first 15 years.
Quantifiable outcome
- Added nearly 20 years of mine life at Caraíba since 2016 acquisition through exploration
- +2 more outcomes
Companies that use Ero Copper Corp.
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles2 records
Ero Copper Corp. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Ero Copper Corp. partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Vale Base MetalscoreEro holds the right to acquire 60% interest in the Furnas Copper-Gold Project through a five-year staged earn-in agreement signed in July 2024. Ero is responsible for drilling campaigns and delivering scoping, pre-feasibility, and feasibility studies, leading to a potential investment decision. The project is located in the world-class Carajás Mineral Province of Pará State, Brazil.
Scale indicators13 records
Recent moves13 records
Expansion highlights5 records
Ero Copper Corp. competitors and assessment
Company assessmentOthers
- Vale S.A. Vale is the largest Brazilian mining company, partnered with Ero on the Furnas Copper-Gold Project via its Base Metals subsidiary. Comparable through its Carajás Mineral Province presence, infrastructure, and copper-adjacent IOCG expertise.
- Royal Gold, Inc. Royal Gold is a precious metals streaming and royalty company with a direct stream on Ero's Xavantina Operations. Included as a capital-structure/counterparty peer rather than an operating peer.
Regional players
- Nexa Resources S.A. Nexa is a Brazil-anchored base metals miner producing zinc and copper concentrates. Comparable on Brazilian operations footprint and concentrate-selling model, though focused on zinc rather than copper.
Emerging players
- IAMGOLD Corporation: IAMGOLD is a mid-tier gold producer with copper by-production and development projects in West Africa and the Americas. Comparable to Ero's Xavantina gold operations and Carajás growth optionality.
- Equinox Gold Corp. Equinox Gold is a multi-asset gold producer operating across the Americas (including Brazil). Comparable on the gold side of Ero's portfolio, particularly Xavantina, with similar geographic exposure.
Broad incumbents
- Freeport-McMoRan Inc. Freeport-McMoRan is one of the world's largest publicly traded copper producers, with major operations including in the Americas and Indonesia. Overlapping commodity, customer, and geographic exposure with Ero, but at vastly larger scale.
- First Quantum Minerals Ltd. First Quantum is a larger, established global copper miner producing copper concentrate and cathode across Africa and Latin America. Overlapping commodity and customer base with Ero, but at significantly greater scale.
Direct peers
- Hudbay Minerals Inc. Hudbay is a copper-focused miner producing copper concentrate in Peru and Canada, with by-product gold and silver. Comparable mid-cap copper producer with similar concentrate-sales model and growth project pipeline.
- Lundin Mining Corporation: Lundin Mining is a diversified base metals miner producing copper, zinc, nickel, and gold across the Americas (including Brazil) and Europe. Directly comparable mid-cap copper producer with overlapping geography and similar mine types to Ero.
- Capstone Copper Corp. Capstone Copper is a pure-play copper producer with operating mines in Chile, Mexico, and Brazil (Pilar mine near Caraíba). Closely comparable to Ero in scale, commodity focus, and Latin American footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Ero Copper Corp. social profiles
Digital presenceEro Copper Corp. financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ero Copper Corp. leadership team
Management profileNumber of profiles
Profiles15 records
Ero Copper Corp. subsidiaries and ownership
Company hierarchySubsidiaries2 records
Ero Copper Corp. funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ero Copper Corp. M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ero Copper Corp.
What does Ero Copper Corp. do?
Ero Copper Corp. is a Brazil-focused mining company that extracts and processes copper ore into copper concentrate at its Caraíba (Bahia) and Tucumã (Pará) operations, and produces gold doré bars from its Xavantina (Mato Grosso) underground mine. Copper concentrate is sold to international traders supplying smelters in Asia and Europe, while gold doré is sold to COIMPA Industrial Ltda. (Umicore Group) for refining. The company is also advancing the Furnas Copper-Gold Project in the Carajás Mineral Province under an earn-in agreement with Vale Base Metals.
Is Ero Copper Corp. a public or private company?
Ero Copper Corp. is a public company. It is classified as public and is currently operating.
When was Ero Copper Corp. founded?
Ero Copper Corp. was founded in 2016.
Where is Ero Copper Corp. based?
Ero Copper Corp. is headquartered in Vancouver, Canada, in the North America region.
How does Ero Copper Corp. make money?
Three revenue lines are on record. Copper Concentrate Sales are the primary driver. The others are gold Doré Bar Sales and gold Stream Arrangement.
Who are Ero Copper Corp.'s main competitors?
Others on record are Vale S.A. and Royal Gold, Inc.. Nexa Resources S.A. is listed as a regional player. Emerging players are IAMGOLD Corporation and Equinox Gold Corp.. Broad incumbents are Freeport-McMoRan Inc. and First Quantum Minerals Ltd.. Direct peers are Hudbay Minerals Inc., Lundin Mining Corporation and Capstone Copper Corp..
Does Ero Copper Corp. have an API?
No public API is recorded for Ero Copper Corp..
What industry is Ero Copper Corp. in?
Ero Copper Corp.'s product category is Copper and Gold Mining. Its primary akta.pro industry code is IMAKADAB, Copper Ore Mining (Open-Pit & Underground), with a secondary code of IMAKADAC, Copper Concentration (Crushing, Grinding, Flotation). Its NAICS code is 212230 and its SIC code is 1090.