Eldorado’s Skouries mine wins EU strategic status
The copper-gold mine is among the 46 selected for faster permitting and funding to strengthen the EU domestic supply chain.
The European Commission has designated Eldorado Gold’s Skouries copper-gold mine in Greece as a strategic project, placing the mine among 46 selected under the EU’s Critical Raw Materials Act (CRMA). This designation accelerates permitting and enhances access to financing for the project, which is crucial for Europe’s long-term supply chain of critical metals.
As copper is vital for electrification, manufacturing, and the energy transition, Eldorado’s Skouries mine is expected to contribute to the EU’s economic growth and industrial competitiveness. Eldorado’s president and CEO, Christian Milau, emphasized the strategic importance of the project in strengthening Europe’s supply chain resilience.
The mine, located in the Halkidiki region of northern Greece, marks a significant $2 billion investment and is designed to operate for 20 years, supporting regional jobs and economic activity. Skouries recently produced its first copper-gold concentrate and is targeting commercial production by the end of 2026, with an ore stockpile exceeding 4.6 million tonnes, enough to sustain processing for over seven months.
The mine has overcome lengthy setbacks, including a four-year suspension due to permitting delays and local opposition, before restarting the project in 2022 following a revised investment agreement with the Greek government.
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