The construction of the Tucumã copper mine, located in Brazil, is in its final stages and Ero Copper is preparing to start production in the second half of this year.
Tucumã copper mine: a safe and ongoing project
With an investment of US$310 million, the new mine is expected to produce an average of 27,000 tons of copper per year at a cost of $1.36 per pound during the first 12 years of operation.
David Strang, CEO of Ero Copper, expressed on Thursday that 2023 was a pivotal year for the company’s growth strategy, highlighting the investments made in the Xavantina and Caraíba operations in Brazil. “However, we expect the most significant transformation in our consolidated production and cash flow profile to begin in the second half of this year with the start of production at the Tucumã project.“, he stated.
With more than 90% of construction completed and capital expenditures beginning to decline, the company is approaching an important inflection point, anticipating solid returns for shareholders.
It is important to highlight that the Tucumã project has achieved a safety record, with no incidents resulting in lost time, accumulating more than three million hours of work since 2022.
Ero Copper’s progress
At Caraíba, Ero Copper has advanced its Pillar 3.0 initiative, which will transform the Pilar mine into a two-mine system capable of maintaining annual production levels of approximately three million tons of ore.
The new shaft sinking phase for the new external shaft at the Pilar mine began in December, along with the mill expansion, which increased processing capacity from 3.2 million to 4.2 million tons per year, reaching design capacity by the end of the year.
Likewise, the NX60 initiative at Xavantina’s operations was successfully completed in 2023, achieving record gold production for the year and expecting to maintain annual gold production levels of between 55,000 and 60,000 ounces going forward.
This advance in the copper mining in Brazil in Brazil not only reflects growth and innovation in the sector, but also underscores the company’s commitment to safety and sustainability. As the Tucumã copper mine begins production, a new era of opportunities opens up for the industry, the local economy and investors.
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Source: miningweekly.com
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