Canadian copper-gold miner Ero Copper produced 3.3pc more copper concentrate in H1 2020 compared with H1 2019, while maintaining its production guidance for the remainder of the year.
The miner’s copper guidance for 2020 ranges from 41,000mt to 43,000mt of copper concentrates. The company is currently exploring the expansion of both its mines in Brazil.
In the first six months of the year, Ero produced 21,835mt of copper, a 3.3pc increase from 21,118mt produced during the same period last year. In Q2 2020, copper production rose by 6.7pc to 11,178mt from 10,473mt in the prior-year period. Ero’s copper production is undertaken at the Curaca Valley in Bahia, Brazil while copper ore is sourced from its underground mines in Pilar de Goias and Vermelho, Carajas.
Copper concentrate sales trended flat in the first half of 2020 at 21,018 compared with 20,964mt in H1 2019, while sales in Q2 2020 declined by 3.3pc to 10,432mt from 10,931mt during the same period last year.
Ero reported an EBITDA loss of $27.2mn in H1, compared with an EBITDA profit of $72.1mn in the first half of 2019. In Q2 2020, the miner reported an EBITDA gain of $23.4mn, compared with $34.9mn in the second quarter of 2019.