Eldorado’s Skouries turns years of setbacks into copper
The Greece mine has produced first concentrate, nearing commercial production after years of delays and setbacks.
Eldorado Gold, a Canadian miner, has successfully produced its first copper-gold concentrate at its Skouries project in Greece. The company aims to commence commercial production in the fourth quarter. After commencing ore processing in July, the miner has been setting up crucial processing systems, such as flotation and tailings thickening.
The Skouries ore stockpile currently stands at over 4.6 million tonnes, providing a buffer for the projected seven-month processing period. CEO George Burns emphasized that this milestone signifies the culmination of years of development, construction, and partnerships, marking a new era for Eldorado. The Skouries project is anticipated to diversify Eldorado's production mix, adding copper revenue while reducing overall cash costs.
The mine is projected to operate for 20 years, generating approximately 140,000 ounces of gold and 67 million pounds of copper annually from open-pit and underground mining. As part of the Kassandra Mines Complex in northern Greece, Skouries is one of two projects Eldorado plans to expand its exposure beyond gold. Alongside McIlvenna Bay in Saskatchewan, Canada, Skouries is expected to transform Eldorado into a more diversified precious metals and critical minerals producer, boasting a stronger production base, significant copper and silver exposure, and improved free cash flow generation.
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