THESSALONIKI – The bitterly-opposed Skouries gold mine project in the northern Greece area of Halkidiki, which was fought by residents worried about tourism and environmentalists about its impact, is in line to see demand for critical mineral raw products like gold and copper.

The transition to a zero-emissions economy, shift to electrification and renewable energy sources, as well as progress in artificial intelligence, have increased demand for minerals, also including lithium, said Naftemporiki.

https://www.naftemporiki.gr/english/1762133/skouries-mining-project-a-major-investment-for-greece-and-europe-in-progress/

It’s also seen creating opportunities for Greece’s mining industry with significant reserves that could make the country an important new supply source for the European and global markets, the report said.

So far about $144 million was invested in the project in the first half of 2024, bringing it to 76 percent after being delayed by opposition and held down by the then-ruling anti-business Radical Left SYRIZA from 2015-19.

Despite concerns about the environmental impact, the report said that the project could help achieve green energy transition goals, has already employed more than 1,000 people and expects to add another 1,000 workers.

The increase is expected when jobs related to the construction of the Skouries project will gradually be added to those related to the operation of the new state-of-the-art mine, the paper said.

The company must adhere to stricter environmental standards and the project will make Greece the third largest gold producing country in Europe and expected to have a productivity value of more than 11 billion euros ($12.12 billion,) it was said.

Hellenic Gold is already the largest exporter of the port of Thessaloniki, an activity which, following the commercial operation of Skouries, is expected to more than double at the facility in Greece’s second-largest city.

An $80 million social investment program has committed the company to development projects over a 25-year-period to help the municipality in which it is located, much of the opposition having abated.