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 significant recognition highlights the mine’s 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. The designation underscores the strategic importance of Skouries not only for Greece but for the entire European Union, as it aims to enhance long-term supply security amidst growing demand for critical metals.
Christian Milau, President and CEO of Eldorado, emphasised that Skouries is positioned to play a vital role in supporting the secure and responsible supply of critical raw materials necessary for economic growth and the energy transition. The mine, located in the Halkidiki region, recently commenced operations and is projected to be a major producer of copper and gold over its estimated 20-year lifespan. With an investment exceeding US$2 billion, the project is expected to create hundreds of direct jobs and stimulate economic activity in the region.
The CRMA, adopted by the EU, aims to reduce reliance on external sources for critical raw materials and enhance access to these resources within the region. Projects designated as Strategic are selected based on their potential contributions to supply security, technical feasibility, sustainability standards, and broader benefits to the EU. The recognition of Skouries as a Strategic Project aligns with the EU’s objectives to strengthen its supply chain resilience and support its industrial competitiveness in the face of global challenges.
Eldorado Gold operates mining, development, and exploration projects in Canada, Greece, and Türkiye, and is committed to maintaining safe and responsible operations while fostering long-term partnerships with local communities. The company’s shares are traded on both the Toronto Stock Exchange and the New York Stock Exchange, reflecting its international presence and commitment to the mining sector.
