Eldorado Gold’s Skouries project in northern Greece is approaching a key development stage, with the copper-gold mine advancing toward first concentrate production in Q3 2026 and commercial production expected in Q4 2026.
The project is among the European Union’s major near-term mining developments, moving beyond exploration and construction phases toward planned operations. Its combination of gold and copper production gives it exposure to both precious metals and industrial demand linked to electrification and infrastructure development.
Mine development approaches production phase
Unlike early-stage mineral exploration projects, Skouries is a near-complete mine development asset preparing for commissioning and production. Eldorado Gold expects the operation to produce its first copper-gold concentrate during the third quarter of 2026, followed by commercial production in the fourth quarter of 2026.
The project’s development is significant within the European mining sector, where many critical mineral discussions have focused on lithium, graphite and rare earths, while copper remains essential for energy infrastructure, power networks and industrial applications.
Long-life copper and gold production profile
Skouries is designed as a major dual-metal operation, combining gold output with copper production over an extended mine life. The asset is expected to average approximately 140,000 ounces of gold per year and 67 million pounds of copper annually over an initial 20-year mine life.
The planned production profile would expand Eldorado Gold’s operating base and increase the company’s exposure to copper alongside its traditional gold production activities.
Greek mining development gains renewed importance
The Skouries project has also been closely linked to Greece’s mining investment environment. The project previously faced permitting disputes and political challenges that affected investor sentiment. Moving the operation into production would mark the transition of a long-delayed project from regulatory and development challenges into an operating mine generating concentrate production. Eldorado Gold’s Greek portfolio also includes the Olympias mine, and performance from its Greek assets remains a key part of the company’s operating profile.
Commissioning performance remains a key milestone
As Skouries approaches first production, attention remains focused on the final stages of mine development and operational readiness.
Key factors during the ramp-up phase include concentrate quality, processing plant throughput, operating costs, workforce preparation and the timing of commercial production. The project includes both underground and open-pit mining components, as well as new processing facilities requiring successful commissioning before reaching planned operating levels.
