Eldorado Gold to restart operations in Skouries

Eldorado Gold has announced the resumption of operations for the gold and copper fields development project in Skouries, Chalkidiki. The objective is to commence commercial production by early 2026, by the end of 2025.6, or by the end of 2025.

The construction project started back in 2017 and has already achieved 50% completion, thanks to a substantial investment of 550 million US dollars. However, an additional 845 million investment is required to finish the Skouries project. The mine is projected to produce an annual yield of 140,000 ounces of gold and 67 million lb of copper for approximately 20 years.

Christos Balaskas, managing director of Eldorado Greece and vice-president for Greece, presenting the plan, said that the combined operation of all mining fields in Kassandra will make Greece the third largest gold producer in Europe with an annual production of 215,000 ounces, after Sweden (260,421) and Finland (247,560).

Completing works will need new investments worth 1.9 billion euros and will produce exports worth 11 billion, public revenue of around 2 billion euros, 5,000 new job positions and environment investments worth 120 million euros.

It is recalled that the Eldorado Gold project in Skouries suffered delays not only by locals concerned about the environmental damages but also by the Greek state.