Ero Copper Corp. (ERO)
Ero Copper Corp. is a Canadian mining company focused on the exploration, development, and production of copper resources. It primarily operates the Costa Rica mine in Brazil, which includes the Mineração Caraíba copper mine. The company is engaged in sustainable mining practices and aims to grow through exploration and acquisition activities in copper-rich regions.
Company News
The global copper market is expected to face a significant supply deficit of 300,000-500,000 metric tonnes in 2025, driven by increasing demand from infrastructure development, agricultural modernization, and renewable energy initiatives. Copper prices are projected to trade between $9,000 to $10,500 per metric tonne.
Ero Copper has extended its precious metals purchase agreement with Royal Gold by an additional $50 million, allowing for increased gold production from the Xavantina Operations in Brazil. The extension will support ongoing growth and asset integrity investment programs at the mine.
Canadian stocks closed higher on Thursday, with the S&P/TSX Composite index rising 0.87%. The best performers were MTY Food Group, NovaGold Resources, and Pan American Silver, while the worst performers were CES Energy Solutions, Capstone Mining, and Ero Copper.
Teck Resources has agreed to sell its 77% stake in its steelmaking coal business, Elk Valley Resources, to Glencore for $6.9 billion. The proceeds will be used to reduce debt and return cash to shareholders, allowing Teck to focus on expanding its copper portfolio and capitalizing on the energy transition trend.
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