Eldorado Gold Corporation has announced that its Skouries copper-gold mine in northern Greece has been designated as a Strategic Project under the European Union’s Critical Raw Materials Act (CRMA). This designation highlights the mine’s crucial role in bolstering the EU’s domestic supply chains for critical raw materials, particularly copper, which is essential for electrification, renewable energy infrastructure, and advanced manufacturing. Christian Milau, the President and CEO of Eldorado, emphasized the significance of this recognition, stating that Skouries is not only vital for Greece but also for the broader European economy. As one of the largest new copper-gold mines in Europe, Skouries is set to play a pivotal role in ensuring a secure and responsible supply of critical materials necessary for economic growth and the energy transition.
Located in the Halkidiki region, the Skouries project recently commenced operations and is expected to produce significant quantities of copper and gold over its projected 20-year lifespan. With an investment exceeding US$2 billion, the mine is anticipated to create hundreds of direct jobs and stimulate economic activity in the surrounding area. The CRMA aims to enhance the EU’s access to critical raw materials while reducing reliance on external suppliers. Projects designated as Strategic are evaluated based on their potential contributions to supply security, technical feasibility, sustainability, and overall benefits to the EU.
Eldorado Gold, a prominent player in the mining sector, operates across Canada, Greece, and Türkiye, focusing on gold, copper, and base metals. The company prides itself on its skilled workforce, commitment to safe operations, and strong partnerships with local communities. As the demand for critical raw materials continues to rise, the strategic designation of the Skouries mine underscores the importance of such projects in supporting the EU’s long-term supply chain resilience and economic competitiveness.
