Hellas Gold’s copper-gold mine at Skouries, in Halkidiki, has been included on the list of Strategic Projects under the EU Critical Raw Materials Act (CRMA), according to a recent announcement by the European Commission.
The company said the decision recognises the importance of Skouries in supporting the European Union’s efforts to strengthen domestic critical raw materials supply chains and ensure long-term security of supply.
Copper has been designated a strategic raw material under the CRMA and is a key metal for electrification, renewable energy infrastructure, high-tech manufacturing and Europe’s broader energy transition.
According to Christian Milau, President and Chief Executive Officer of Eldorado Gold, “the designation of Skouries as a Strategic Project underscores its importance not only for Greece, but for Europe as a whole”.
The Skouries mine has recently commenced operations and is expected to become a significant copper and gold producer over its estimated 20-year mine life. The project represents an investment of more than $2 billion and is expected to support hundreds of direct jobs, as well as economic activity across the wider region. Ον his part, Christos Balaskas, President of Hellas Gold and Vice President and Country Manager for Greece at Eldorado Gold, said: “With Skouries commencing operations, Greece’s mining expertise is becoming part of Europe’s drive to build a more secure and resilient copper supply — an essential raw material for European industrial value chains and clean energy technologies.”
The CRMA was introduced by the European Union to strengthen Europe’s access to critical raw materials and reduce its dependence on external sources of supply. Strategic Projects are selected based on their potential contribution to Europe’s security of supply, technical feasibility, compliance with sustainability standards and wider benefits for the European Union.
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