Northern Greece: Eldorado Gold’s long-delayed Skouries project has reached a major milestone with the production of its first copper-gold concentrate, marking the transition from years of construction and setbacks toward commercial mining operations.
The company produced its first concentrate on September 8, 2026, after introducing the first ore into the crushing circuit in July. Key processing systems, including crushing, grinding, flotation and tailings-thickening circuits, have now been commissioned as part of the plant’s ramp-up.
The achievement is particularly significant given Skouries’ troubled development history. Construction was suspended for about four years between 2017 and 2021 amid permitting delays and local opposition. Following a revised investment agreement with the Greek government, Eldorado resumed development and formally restarted the project in 2022.
Located on Greece’s Halkidiki Peninsula, Skouries is designed as a combined open-pit and underground copper-gold mine. Over its planned 20-year mine life, the project is expected to produce an average of around 140,000 ounces of gold and 67 million pounds of copper annually.
Eldorado says the project now has more than 4.6 million tonnes of ore stockpiled, providing enough material for more than seven months of planned processing during the initial ramp-up. Commercial production is targeted for the fourth quarter of 2026.
Skouries is also strategically important for Eldorado because it will increase the company’s exposure to copper, a key metal for electrification and energy infrastructure, while reducing its dependence on gold revenues. The company expects the project to become a major contributor to production and cash flow as it reaches full capacity.
With the first concentrate now produced, Skouries has moved from a long-running development challenge to one of Eldorado Gold’s most important growth assets. The next major test will be completing the commissioning process and achieving commercial production later this year.