Eldorado Gold is interested in new mining activities in Greece, according to the Group’s Chairman and CEO, George Burns.
Speaking at the Delphi Economic Forum X, taking place in Delphi on April 9-12, Burns highlighted that further exploration is underway in Halkidiki, while licensing is expected for the gold mine in Thrace, near Alexandroupolis, with the aim of construction in the next two years.
As he said, more than 2 billion euros have already been invested in Greece, adding that their success will bring more investors to the country. “We have a mine in operation in Olympias. We have a second mine in Skouries that we expect to start production in the first quarter of next year. And it will be a fairly significant change in the footprint of our company. But it will have a huge impact on Greece and especially on the local communities where we operate,” he underlined in an interview with ERT.
He stressed that what attracted the company to the country is its mineral wealth, which is untapped. The key to exploiting this potential, to securing the European Union’s supply and to creating high-paying jobs, he said, is to open exploration permits for companies to invest, drill and find deposits and then work through licensing and environmental controls to turn these explorations into mines. He noted that the Greek State should create the appropriate regulatory environment so that investors feel safe.
Burns described as a positive development the fact that the European Union is focusing on the development of new mines within its borders, saying that it has identified certain projects on which they will focus, considering Greece as an area with a strategic location and great exploration potential.
Mining costs will increase due to tariffs
Asked about the impact of US tariffs on the mining industry, he stressed that if the tariffs remain, costs will increase, but expressed optimism that the issue will be resolved.
According to the president and CEO of Eldorado Gold, the tariffs are an attempt by the US to change global trade, adding that the start of individual negotiations with each country shows that the situation is heading towards easing.
