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Hellas Gold Announces the Restart of the Investment at Skouries

December 15, 2022

ATHENS – Hellas Gold on Thursday announced that the exploitation of the gold and copper deposits at the Skouries mine in Halkidiki can now go forward, as the board of the parent company Eldorado Gold has approved the investment decision and a facility of 680 million euros.

According to the feasibility study, the total life of the mine will be approximately 20 years, in which it will have an average annual production of 140,000 ounces of gold and 67 million pounds of copper. Production, according to what was made known on Thursday, is expected to begin in the second half of 2025. The resumption of the project in Skouries and its inclusion in the production phase is part of the company’s new investment plan that has been agreed, amounting to 3.1 billion euros.

“Skouries represents the next phase of growth at Eldorado, generating significant value for all of our stakeholders with robust project economics and providing many benefits to the local communities and economy in Greece,” said chairperson Steve Reid.

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