What's Happening?
Eldorado Gold has announced the commencement of the commissioning phase at its Skouries copper-gold project located in northern Greece. This marks the first processing of ore through the project's crushing circuit, indicating that the front-end processing systems
are operational as planned. The project is in its final construction stages, with the company targeting the production of copper-gold concentrate by the third quarter of 2026. The commissioning involves both wet and dry activities across various on-site circuits, including grinding, flotation, and tailings management. Eldorado Gold has also completed the installation of 12 power transmission towers, although full energization of the site awaits final inspection by the Greek power authority. In the interim, additional generators have been installed to support ongoing commissioning activities.
Why It's Important?
The commissioning of the Skouries project is a significant milestone for Eldorado Gold, as it represents a major step towards increasing its production capacity. The project is expected to contribute substantially to the company's output, with a run-of-mine ore stockpile of approximately 3.9 million tonnes ready to support the plant through 2026. This development is crucial for Eldorado Gold's strategic growth, potentially enhancing its market position in the copper and gold sectors. The successful commissioning and subsequent production could also have broader economic implications, potentially boosting local employment and contributing to the regional economy in northern Greece.
What's Next?
Eldorado Gold plans to continue with the staged commissioning and operations transfer, with commercial production anticipated in the quarter following the initial concentrate production. The company is awaiting the final inspection and sign-off by the Greek power authority for full site energization. In the meantime, Eldorado Gold is taking proactive measures to maintain momentum, including the use of supplemental generators. The successful completion of these steps will be critical for meeting the projected timelines and achieving the desired production targets.
