en.Wedoany.com Reported - Canadian gold producer Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) has provided an update on the progress of its Skouries copper-gold project in northern Greece. The project has entered the commissioning phase, with the first ore processed through the crushing circuit. The company remains on track to achieve first production of copper-gold concentrate in the third quarter of 2026, with commercial production targeted for the fourth quarter of 2026, subject to the completion of final site energization, integrated commissioning, and ramp-up activities.
The first ore has been processed through the commissioned crushing circuit, demonstrating that the front-end processing equipment is operating as expected. Plant-wide commissioning continues to advance, with wet and dry commissioning of the crushing, grinding, flotation, concentrate handling, and tailings circuits progressing, and systems are being progressively handed over to the integrated commissioning and operations teams. Final site energization remains pending completion of testing by the Greek electricity authority. Following the successful coordination of an eight-hour power outage on the transmission line, the final transmission tower has been installed. While awaiting final inspection and acceptance, the company has proactively added additional generator sets to provide temporary power to support commissioning readiness and plant activities. Open-pit mining continues to advance ahead of schedule, with approximately 3.4 million tonnes of run-of-mine stockpile established, which, combined with underground ore, totals approximately 3.9 million tonnes of stockpile, expected to provide the required ore feed for 2026, supporting low-risk commissioning and first-year production.
"Crushing first ore is a significant milestone for the Skouries project and reflects the steady, safe progress the team is making as the project enters the final stages of construction and phased commissioning," said George Burns, Chief Executive Officer. While final site energization remains subject to final inspection and acceptance by the Greek electricity authority, the company is proactively taking steps to maintain momentum, including adding backup generators to support commissioning activities. Full integrated plant operation requires final site energization, and the company's focus remains on safely and methodically completing the remaining steps toward the goal of first concentrate production in the third quarter.
Power infrastructure construction continues to advance, with all 12 towers and conductor installation now complete. The successful coordination of an eight-hour power outage on the transmission line enabled the installation of the final transmission tower. Preliminary testing of the substation has been completed by a third-party testing team. Final site energization remains subject to inspection, final testing, metering installation, and final acceptance by Greek authorities. In the interim, the company has proactively added additional generator sets to support commissioning activities and maintain progress where feasible. Full operation of the plant's major systems (crushing, grinding, flotation, concentrate handling, and tailings disposal) remains contingent on final site energization by the power authority.
Commissioning is progressing in phases across multiple areas of the project, with dry, wet, and hot commissioning activities for the crushing, grinding, flotation, concentrate handling, and filtered tailings circuits advancing where feasible. Systems are being tested and verified against design parameters and are being sequentially handed over from the construction team to the operations team. The company will continue to advance commissioning of the remaining circuits toward integrated plant operations and first concentrate production. Open-pit mining continues to advance ahead of schedule, with approximately 3.9 million tonnes of ore stockpile established, providing sufficient feed for the plant to achieve a controlled and stable ramp-up during commissioning and commercial production. Underground development is progressing concurrently, and this stockpile is expected to provide the required ore feed for 2026, supporting low-risk commissioning and first-year production.
Simon Hille, FAusIMM, Executive Vice President and Chief Operating Officer, is the Qualified Person responsible for preparing and supervising the preparation of the scientific or technical information contained in this news release and for verifying the technical data related to the Skouries project disclosed in this document, in accordance with National Instrument 43-101.
