Eldorado’s Skouries turns years of setbacks into copper

AI desk brief

Eldorado Gold produced first copper-gold concentrate at Skouries in Greece and is targeting commercial production in Q4, putting the long-delayed project on track after years of setbacks. The mine now has a 4.6Mt ore stockpile, enough for more than seven months of planned throughput, and is designed to run for 20 years with annual output of about 140,000 oz of gold and 67M lb of copper.

The project should reshape Eldorado’s mix by adding copper revenue and lowering cash costs, while giving the company broader exposure beyond gold. Management said Skouries, alongside McIlvenna Bay, is intended to make Eldorado a larger, more diversified precious-metals and critical-minerals producer with stronger free cash flow generation.