Brief

EU grants strategic status to Eldorado Gold’s Skouries copper‑gold mine in Greece

The designation places Skouries among 46 EU projects under the Critical Raw Materials Act, boosting its path to commercial production.

By Felo News Desk · Published Wed, 14 Oct 2026 00:52:45 GMT

The European Commission announced on Oct. 9 that Eldorado Gold’s Skouries copper‑gold mine in Greece has been given strategic status under the EU’s Critical Raw Materials Act, joining 45 other projects selected for faster permitting and easier access to public and private funding.

Skouries, part of the Kassandra Mines Complex in the Halkidiki region, represents more than $2 billion in investment and is slated to run for 20 years. The mine recently produced its first copper‑gold concentrate and aims to start commercial output by the end of 2026, with an ore stockpile of over 4.6 million tonnes sufficient for seven months of processing.

According to Eldorado president and CEO Christian Milau, the strategic label underscores the project’s role in supplying critical raw materials essential for Europe’s energy transition and industrial competitiveness. The designation does not bring immediate EU funding but will help the company bid for financing.

Shares of Eldorado Gold fell 3.03% to C$52.09 ($36.62) in Toronto trading on Tuesday morning, valuing the firm at about C$13.6 billion ($9.5 billion). The project has a troubled history, with construction halted from 2017 to 2021 due to permitting delays and local opposition, before a revised investment agreement with the Greek government was reached in 2021 and the board approved a restart in 2022.

Key facts

The EU granted strategic status to Eldorado Gold's Skouries mine on Oct. 9. (mining.com)
Skouries is one of 46 projects selected under the EU Critical Raw Materials Act. (mining.com)
The mine aims to produce about 140,000 oz of gold and 67 million lb of copper annually. (mining.com)
Eldorado shares fell 3.03% to C$52.09 after the announcement. (mining.com)