Mining activity has always been an important factor in the economic development of regions that host businesses in the sector. An important role in this direction is played by the mining fees, which the companies must pay to the state, with a part of them directed to the Municipalities within which the mining activity is carried out.

An example that confirms this reality is the Municipality of Aristotelis in Northeast Halkidiki, which for many could be considered the most favored in the country, due to the significant resources it receives every year from the activity carried out by Greek Gold within its borders. The gold, silver, lead and zinc mining company is one of the largest employers in the area, but also an important source of direct and indirect income for the local community and the Municipality’s coffers.

Only for 2023, the Municipality of Aristoteli collected 3.5 million euros from the company’s mining fees, Mrwhich constitutes 95.6% of the total mining fees awarded to Municipalities in all of Greece. This particularly important income for a small municipality in the Region is used to strengthen its basic infrastructure, as well as for development projects that will be a legacy for future generations, even after the end of the mining activity.

However, the contribution of Ellinikos Chrysos is not limited only to the payment of mining fees. The company works closely with local agencies and society, in order to ensure the implementation of actions that meet the needs and priorities of the region.

In this context, in the last decade the company has invested more than 28 million euros in social investments concerning education, the environment, health, culture, etc. In addition, it has committed through its Investment Agreement with the Greek State to the implementation of emblematic projects of social care and local development, worth 80 million dollars in depth of 25 years.

Equally important is Hellinikon Chrysos’ footprint in employment. In total, it currently employs more than 1,900 employees, having noted from 2022, a 28% increase in jobs. It is worth noting that 9 out of 10 employees in the company come from the local communityas the company always gives priority to the local workforce, while approx 50% of contract employees in the construction of the Skouria project have permanently relocated to the area.

The construction phase of the project, which is currently underway, has already created 600 new jobs, a number that is very soon expected to increase significantly in the coming years when the positions related to the construction of the project will be gradually added to those related to the operation of the new state-of-the-art mine. Overall, the full development of Kassandra Mines is expected to create 3,000 jobs, offering local residents a wide range of opportunities in various specialties.

ellinikos xrysos

Young workers in the underground mine of Olympiada

It is worth noting that, despite the ten-year economic crisis experienced by the country and the recession in wages, Hellenic Gold steadily raised the pay level of its employees, who since 2012 they have increased by 30% (2.4% annual growth rate against a 3.7% decline in national income). Also, it pays every year to its staffhighest productivity bonus, which in 2023 amounted to 5.1 million euros. The strengthening of employment and indeed with competitive salaries, as well as the benefits provided by the company lead to a corresponding strengthening of the purchasing power of the population of the region and consequently to the stimulation of the local economy and support of local businesses. It is also indicative that during the last two years, Hellenic Gold’s procurement costs for goods and services from local suppliers exceed 30 million euros.

The company’s multi-level contribution to the region is an important example of how mining activity, when carried out with responsibility and respect for the environment and local communities, can act as a driver of development and prosperity.