Geomechanics.io

  • Free Tools
Sign UpLog In
Built byBoxcut Studio

Geomechanics.io

Geomechanics, Streamlined.

© 2026 Geomechanics.io. All rights reserved.

Geomechanics.io

CMRR-ioGEODB-ioHYDROGEO-ioQCDB-ioFree Tools & CalculatorsBlogLatest Industry News

Industries

MiningConstructionTunnelling

Company

Terms of UsePrivacy PolicyLinkedIn
    Projects

    Ero Copper’s Furnas project: 24-year mine NPV and capex lens for planners

    February 25, 2026|

    Reviewed by Tom Sullivan

    Ero Copper’s Furnas project: 24-year mine NPV and capex lens for planners

    First reported on MINING.com

    30 Second Briefing

    Ero Copper’s Furnas project in Pará, Brazil, has delivered a first PEA outlining a 24-year, four-zone operation producing about 1.2 million tonnes of copper, 2 million oz. of gold and 9 million oz. of silver, with average copper-equivalent output of 108,000 tonnes per year over the first 15 years. Using long-term prices of $4.60/lb copper, $3,300/oz gold and $40/oz silver, the study reports an after-tax NPV8 of $2 billion, 27% IRR and initial capex of $1.3 billion (~$16,000/t CuEq). The 2,400-hectare Carajás property, 50 km from Vale’s Salobo mine, carries 275.6 Mt indicated at 0.83% CuEq and 195.9 Mt inferred at 0.76% CuEq from 28,000 metres of Phase 1 drilling.

    Technical Brief

    • Four distinct mining areas are planned within the Furnas project footprint, implying distributed infrastructure and haulage.
    • Vale and Anglo American previously completed 90,000 m of drilling, providing a deep legacy dataset for modelling.
    • Ero’s own work has added 45,000 m of drilling in two phases as sole exploration funder.
    • Current resource estimate is based only on 28,000 m of Phase 1 drilling, leaving Phase 2 unmodelled.
    • The 2,400-hectare property lies ~50 km southeast of Vale Base Metals’ Salobo copper operations in the Carajás province.
    • Ero holds an earn-in right to 60% of Furnas under a 2024 agreement with Vale Base Metals.
    • Indicated resources stand at 275.6 Mt at 0.83% CuEq; inferred at 195.9 Mt at 0.76% CuEq.
    • 2024 PEA is described as the culmination of over a decade of engineering and technical studies on the asset.

    Our Take

    Using the stated 1.2 million tonnes of copper over 24 years, Furnas would average around mid-40 ktpa copper output, which in our database puts it in the mid-tier scale bracket for Latin American copper operations rather than among the Carajás mega-producers such as Salobo in Pará.

    The 8% discount rate and US$4.60/lb copper price assumption used in the Furnas PEA are at the upper end of price decks seen in recent copper project studies in our coverage, suggesting that project economics could be more sensitive to downside price scenarios than some peer feasibility cases.

    Ero Copper’s right to earn a 60% interest at Furnas, combined with an initial capex estimate of US$1.3 billion, implies a substantial funding requirement relative to its roughly US$3.5 billion market capitalisation, which in our database typically leads operators to consider staged development, streaming/royalty structures, or strategic partners for similar Latin American copper–gold builds.

    Geotechnical Software for Modern Teams

    Centralise site data, logs, and lab results with GEODB-io, CMRR-io, and HYDROGEO-io.

    No credit card required.

    • Save and export unlimited calculations
    • Advanced data visualisation
    • Generate professional PDF reports
    • Cloud storage for all your projects

    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

    Related Articles

    Buffalo Potash permit at Disley: design, risk and process notes for mine engineers
    Mining
    2 days ago

    Buffalo Potash permit at Disley: design, risk and process notes for mine engineers

    Buffalo Potash has secured Saskatchewan approval to complete construction and operate its Disley initial production module, a 125,000 t/y soluble-grade potash facility 50 km northwest of Regina using a patented horizontal line-drive brine circulation method through parallel horizontal wells. The C$41.5 million module will test selective underground dissolution of potassium chloride with sodium-chloride-saturated brine and supply local agriculture, drilling-fluid markets and potassium-chloride brine for regional oilfields, ahead of planned 500,000 t/y Disley East and West expansions to about 1.13 Mt/y. The permit, which runs to 30 April and excludes future modules, requires groundwater characterisation, air-quality compliance and financial assurance, while the project proceeds without a feasibility study or declared reserves, elevating technical and economic risk.

    Exiro-led takeover of Vale’s Manitoba nickel complex: key points for mine planners
    Mining
    2 days ago

    Exiro-led takeover of Vale’s Manitoba nickel complex: key points for mine planners

    Exiro Minerals, Orion Resource Partners and Canada Growth Fund have acquired an 81.1% stake in Vale’s Thompson nickel operations in northern Manitoba, committing up to US$200 million to sustain and develop the six-decade-old complex. The new vehicle, Exiro Nickel, takes over day-to-day control of two operating underground mines, the adjacent concentrator and exploration ground along the 135 km Thompson Nickel Belt, while Vale Base Metals retains an 18.9% interest. A multi-year offtake agreement keeps Vale buying nickel concentrate from the Thompson mill, providing a defined outlet for future production.

    Mining
    2 days ago

    Moeve–Emerita 100% renewable diesel deal in Spain: decarbonisation notes for mines

    Moeve and Emerita Resources have signed Spain’s first mining-sector agreement to deploy 100% renewable diesel (HVO) at industrial scale, designating Moeve as preferred supplier of this second-generation biofuel. The HVO, derived from waste and residue feedstocks rather than food crops, is claimed to cut lifecycle CO2 emissions by up to 90% compared with conventional diesel. For mine operators, the drop-in fuel compatibility with existing diesel engines offers a near-term route to decarbonise haul trucks and auxiliary fleets without major equipment changes.

    Related Industries & Products

    Mining

    Geotechnical software solutions for mining operations including CMRR analysis, hydrogeological testing, and data management.

    Construction

    Quality control software for construction companies with material testing, batch tracking, and compliance management.

    CMRR-io

    Streamline coal mine roof stability assessments with our cloud-based CMRR software featuring automated calculations, multi-scenario analysis, and collaborative workflows.

    HYDROGEO-io

    Comprehensive hydrogeological testing platform for managing, analysing, and reporting on packer tests, lugeon values, and hydraulic conductivity assessments.

    GEODB-io

    Centralised geotechnical data management solution for storing, accessing, and analysing all your site investigation and material testing data.

    AllGeotechnicalInfrastructureHazardsEnvironmental