Ero Copper reports temporary power interruption in Tucumã

VANCOUVER, British Columbia, Oct. 6, 2024 (GLOBE NEWSWIRE) — Ero Copper Corp. (TSX: ERO, NYSE: ERO) (“Ero” or the “Company”) announces that its Tucumã operations experienced a temporary power interruption following the occurrence of a severe local storm on October 5, 2024 in the southwestern region of the Carajás Mineral Province, Pará State, Brazil Workers are safe and there was no damage to infrastructure at the Tucumã facility.

The regional power grid, including the main 230 kV transmission line serving the region, was damaged during the storm, resulting in a power outage for more than 200,000 residents and major industrial customers. Since then, power has been fully restored to residential communities and partially restored to industrial consumers. The owner and operator of the transmission line has indicated that full restoration of power to industrial consumers, including the company’s Tucumã operations, is expected within two weeks.

The power outage in Tucumã impacts the milling, flotation and filtration circuits within the processing plant. The mining and crushing operations remain unaffected, the ore continues to be stored in the mine and crushed ore dumps. The Company expects the primary impact to be on the processing plant ramp-up schedule and therefore full-year production results at the Tucumã operation. While the extent of the impact will depend on the timing of full power restoration, Ero Copper remains well positioned to manage this temporary disruption and will provide further updates as the situation evolves.

ABOUT ERO COPPER CORP
Ero is a high-margin, high-growth, low-carbon copper producer with operations in Brazil and headquarters in Vancouver, BC. The Company’s principal asset is a 99.6 percent interest in Brazilian copper mining company Mineração Caraíba SA (“MCSA”), 100 percent owner of the Company’s Caraíba operations (formerly known as MCSA Mining Complex), located in Curaçá Valley in the Brazilian state of Bahia and includes the Pilar and Vermelhos underground mines and the Surubim open pit mine, Tucumã Operation (formerly known as Boa Esperança), an open pit copper mine in Pará, Brazil. The Company also owns 97.6% of NX Gold SA ( “NX Gold”), which owns Xavantina Operations (formerly known as NX Gold Mine), consisting of an active gold and silver mine in Mato Grosso, Brazil. Further information about the Company and its operations, including technical reports on the Caraíba Operations, Xavantina and Tucumã, can be found on SEDAR+ (www.sedarplus.ca/landingpage/) and on EDGAR (www.sec.gov). The Company’s shares are listed on the Toronto Stock Exchange and the New York Stock Exchange under the symbol “ERO “publicly traded.

For further information please contact us
Courtney Lynn, SVP, Corporate Development, Investor Relations and Sustainability (604) 335-7504
[email protected]

NOTE REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements include statements that use forward-looking terminology such as “may,” “could,” “would,” “will,” “should,” “intend,” “seek,” “plan,” “expect.” “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variant thereof or other variations thereof or comparable terminology. Forward-looking statements may include, but are not limited to, statements regarding the expected restoration of power and the restart of the Tucumã processing facility; the Company’s ability to manage the impact of the power interruption on the Tucumã operations start-up schedule and full-year production results; and any other statement that may predict, predict, imply or imply future plans, intentions, levels of activity, results, performance or achievements.

Forward-looking statements are not guarantees of future performance. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements include statements about the future and are inherently uncertain, and the Company’s actual results, achievements or other future events or conditions may differ materially from those discussed in the forward-looking statements as a result of a variety of risks, uncertainties and other factors including, but not limited to, those referred to herein and in the Company’s most recent Annual Information Form under the heading “Risk Factors.”

The Company’s forward-looking statements are based on management’s assumptions, beliefs, expectations and opinions as of the date the statements are made, many of which may be difficult to predict and are beyond the Company’s control. In connection with the forward-looking statements contained in this press release and the AIF, the Company has made certain assumptions, including, among other things, the continued effectiveness of the measures taken by the Company to mitigate the potential impact of COVID-19 on its workforce and operations; favorable equity and debt capital markets; the ability to raise additional capital required on reasonable terms to advance production, development and exploration of the Company’s properties and assets; future prices for copper, gold and other metals; the timing and results of exploration and drilling programs; the accuracy of any mineral reserve and mineral resource estimates; the geology of the Caraíba Operations, the Xavantina Operations and the Tucumã Project is as described in the relevant technical report for each property; production costs; the accuracy of budgeted exploration, development and construction costs and expenses; the price of other goods such as fuel; future exchange rates and interest rates; Operating conditions are favorable, allowing the company to operate safely, efficiently and effectively. continued healthy workforce in the face of prevailing epidemics, pandemics or other health risks (including COVID-19), political and regulatory stability; the receipt of regulatory, regulatory and third party approvals, licenses and permits on favorable terms; Obtaining required extensions of existing permits, licenses and permits on favorable terms; Requirements under applicable law; continued work stability; Stability on the financial and capital goods markets; availability of equipment; positive relationships with local groups and the Company’s ability to meet its obligations under its agreements with such groups; and meet the terms and conditions of the Company’s current loan agreements. Although the Company believes that the assumptions contained in forward-looking statements are reasonable as of the date of this press release, these assumptions are subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingent liabilities and other factors actual actions, events, conditions, results, performance or achievements could differ materially from those projected in the forward-looking statements. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from the estimated or projected results expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

The forward-looking statements contained herein are made as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as follows required under applicable securities laws.