Eldorado Gold announced the restart of operations for the development of gold and copper fields in Skouries, Chalkidiki, with the aim to begin commercial production by the end of 2025, early 2026.
Construction work began in 2017 and have been completed up to 50% with an investment worth 550 million US dollars. Another 845 million investment will be needed to complete work in Skouries which is expected to produce 140,000 ounces of gold and 67 million lb of copper annually with a life span of around 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 annual production of 215,000 ounces, after Sweden (260,421) and Finland (247,560).
Completion of 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