Skouries

Skouries is a copper and gold mining project located in the Halkidiki region of northern Greece. The project is owned and operated by Eldorado Gold through its subsidiary Kassandra Mines. Skouries is designed as a combined open-pit and underground mining operation, with ore to be processed through both flotation and heap-leaching circuits to produce copper concentrate and doré. The deposit contains significant reserves of copper, gold and silver, positioning it as one of Greece's most substantial base and precious metals projects. The project has faced periodic delays related to permitting, environmental concerns and local opposition, which have extended its development timeline. When fully operational, Skouries is expected to produce approximately 140 000 tonnes of copper and 230 000 ounces of gold in concentrate annually during its first full years of production. The mine forms part of Kassandra Mines' portfolio in the Kassandra mining district, which also includes the Olympias gold mine and the Stratoni lead and zinc mine. Construction and development activities have progressed in phases as regulatory approvals and financing have been secured. The project represents a significant capital investment for Eldorado Gold and is central to the company's growth strategy in Europe. Skouries is expected to have a mine life exceeding 20 years based on current reserve estimates.