Name of the Project
Skouries gold/copper project.
Location
Halkidiki Peninsula, Greece.
Client
Eldorado Gold.
Project Description
Skouries is a high-grade gold/copper porphyry deposit.
Eldorado plans to develop the project in two phases.
Phase 1 involves a combination of openpit and underground mining over nine years, producing 1.4-million ounces of gold and 620-million pounds of copper.
Phase 2 involves underground mining for a 15-year period once Phase 1 is complete. Total production during this phase is expected to be 1.7-million ounces of gold and 850-million pounds of copper.
The project has a mine life of 25 years.
Jobs to be Created
The project has 235 employees/contractors.
Net Present Value/Internal Rate of Return
Not stated.
Value
Development capital over the Phase 1 is budgeted at $710-million and includes all mine development and process facilities.
Development capital during Phase 2 is budgeted at an estimated $460-million.
Duration
Production is targeted for 2019.
Latest Developments
The government of Greece has approved a permit application by Eldorado to build a plant at its Skouries mine.
Eldorado halted development at the project in January, saying that government had been delaying necessary permits for the project.
The miner resumed preparatory work for construction at the site in June 2016 after it received approval of an updated technical study.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Eldorado Gold VP: investor relations and corporate communications Krista Muhr, tel +1 604 687 4018 or email kristam@eldoradogold.com.