Skouries mine

The Skouries mining project in Halkidiki, northern Greece, alongside the Olympiada and Mavres Petres mines and other facilities belonging to Kassandra Mines, constitutes a pillar of strong growth for Eldorado Gold, according to the management of the Canadian group.

Eldorado Gold's assets in Greece are key to its strategic development plans, the CEO of the Canadian company, George Burns, said on Monday, underlining that the copper deposits at Skouries are so significant that the company will become one of the largest copper producers in the European Union.

Canadian miner Eldorado Gold announced the restart of operations for the development its long-delayed Skouries gold-copper project in northern Greece, after it secured 680 million euros last April to fund the project.

The aim is to begin commercial production by the end of 2025, early 2026.

Hellas Gold and its parent Eldorado Gold Corporation on Wednesday announced they had reached an agreement with the European Bank for Reconstruction and Development (EBRD) to provide financial support worth $60 million for the development of the Skouries gold and copper mine project. 

Eldorado Gold Corporation and its wholly owned subsidiary Hellas Gold announced on Wednesday they had completed the 680-million-euro financing for the development of the Skouries project in northern Greece.

The funding agreement is structured to provide 80% of the funding required to complete the project, with the remaining 20% to be funded by Eldorado Gold.

The government signed on Friday a revised contract with Eldorado Gold Corporation, covering its mining operations in northern Greece, where it has faced repeated stalling over licensing delays and environmental concerns.

Eldorado has been in talks with the Greek government on a revised investment plan that would secure higher royalties from mining development and new jobs.

Greece is in talks with Canada's Eldorado Gold to secure higher royalties from its mining development projects and new jobs, Energy Minister Kostis Hatzidakis said on Monday.

Canadian miner Eldorado Gold Corp on Tuesday said it has received installation permits for its stalled Skouries mine project, and Olympias mines from the Greece's Ministry of Energy and Environment.

The permit will allow for the installation of mechanical and electrical equipment in the Skouries mine, which has struggled with permit delays for years.

Greece's new conservative government will soon issue permits for Canadian miner Eldorado Gold's development in northern Greece, its energy ministry said on Monday.
Vancouver-based Eldorado has two operating mines and two development projects in northern Greece but has struggled with permit delays at one location, Skouries, for years.

Greece's recently-elected government wants a stalled gold mine investment by Canada's Eldorado to be revived, its energy minister said on Tuesday after meeting company executives.
Vancouver-based Eldorado has two operating mines and two development projects in northern Greece but has struggled with permit delays at one location, Skouries, for years.