Greece's Skouries Copper-Gold Mine Selected as EU Critical Raw Materials Strategic Project

en.Wedoany.com Reported - On October 9, the European Commission included the Skouries copper-gold mine of Canada's Eldorado Gold Corporation, located in northern Greece, in the second list of strategic projects under the Critical Raw Materials Act. The mine is located on the Chalkidiki Peninsula in Greece, with cumulative investment exceeding US$2 billion and a planned mine life of approximately 20 years. The EU added a total of 46 strategic projects this time, distributed across 16 member states.

The Skouries copper-gold mine is located in the Chalkidiki region of northern Greece and is developed by Eldorado Gold Corporation. The project adopts a combined open-pit and underground mining approach to produce copper-gold concentrate. The company expects to produce an average of 140,000 ounces of gold and 67 million pounds (approximately 30,400 tonnes) of copper annually over the mine life. The above production figures are planned project averages and are not yet actual annual production.

In September 2026, the Skouries mine produced its first batch of copper-gold concentrate. On September 28, the project completed its permanent connection to the Greek national grid and passed final inspection, testing and approval by the local transmission authority. The mine's ore processing and supporting systems are undergoing commissioning and ramp-up, and the company plans to enter the commercial production phase in the fourth quarter of 2026.

The European Commission selected 46 strategic projects from 102 applications this time, covering raw materials such as copper, lithium, nickel and rare earths. Under the Critical Raw Materials Act, permitting procedures for mining and processing of strategic projects within the EU are subject to maximum processing periods of 27 months and 15 months respectively in principle, and projects may receive support for financing advice and matchmaking with potential funding providers.