The transition to a zero-emissions economy, the shift to electrification and renewable energy sources, as well as progress in artificial intelligence, have spurred demand for critical mineral raw materials such as copper, lithium, and more.
This favorable situation creates important opportunities for Greece, as our country is proceeding with an important investment in the area.
This is the project of Hellas Gold in Skouries, in the Municipality of Aristotelis, Halkidiki, which is one of the most ambitious investment projects of the last decades in the country. Beyond its economic dimension, the project has triggered strong interest in the future of the Greek mining industry, its relationship with the environment and its contribution to the European supply chain.
Due to the significant reserves that make it a world-class copper and gold deposit, as well as an important new source of supply to the European and global market of critical raw materials such as copper, the Skouries project will play a key role in the energy transition of Europe making Greece an important mining center internationally.
According to the latest available data, around 144 million dollars have been invested in the project in the first half of 2024, with its overall progress reaching 76%, while the earthworks and construction works have progressed significantly. The commercial operation of the mine is expected in the second half of 2025.
The project has the potential to transform the Greek economy by creating new employment opportunities and contributing to the achievement of the goals of the green energy transition. Already, the construction phase of the project has created more than 1,000 new jobs, while the company employs a total of more than 2,000 workers. This number is expected to increase significantly, when the positions related to the construction of the Skouries project will gradually be added to those related to the operation of the new state-of-the-art mine.
At the same time, the adoption of advanced technologies and strict environmental standards make the project a good example of the application of sustainable mining practices. The know-how gained from the Skouries project can be transferred to other mining activities in the country, positively affecting the industry as a whole.
It is worth noting that the investment of Hellas Gold, in its full development, can make Greece the third largest gold producing country in Europe, strengthening its geostrategic role within the European Union. In addition, it will develop an outward-facing production activity with a value expected to exceed 11 billion euros, creating multiple economic and social benefits at the national and local level.
Hellenic Gold is already the largest exporter of the port of Thessaloniki, an activity which, following the commercial operation of Skouries, is expected to more than double.
Finally, through the social investment program, worth 80 million dollars, Hellas Gold has committed to strategic development projects and actions that will be implemented over a 25-year period and will contribute to the long-term development of the Municipality, creating a future of prosperity and development for the region.
